There are many stocks which have emerged as notable gainers at different points this week so far and one of those is the Code Chain New Continent Limited (NASDAQ:CCNC) stock.
Trading Data
On Tuesday, CCNC stock increased 9.20% at $1.7800 with more than 8.28 million shares, compared to its average volume of 901.67K shares. The stock has moved within a range of $1.5000 – 1.7800 after opening the trade at $1.7600.
Major Order Agreement with AGMH for Mining Operation Expansion
The vertically integrated cryptocurrency mining company saw its stock jump by as much as 9% after it announced that it had inked a major order agreement with the company AGM Group Holdings Inc. It goes without saying that the signing of the agreement was a significant development for the company and investors could do well to take a closer look at what it entails before making their minds up about the Code Chain New Continent stock.
As per the provision of the agreement, Code Chain New Continent is going to buy as many as 10000 KOI Miner mining machines for a total order size of $65 million. The mining machines in question are expected to be delivered to the company at some point in the latter half of next year. However, that is not all. The agreement also has an option by way of which Code Chain New Continent can pick up an extra block of 10000 KOI Miner mining machines.
Key Quote
Mr. Chenjun Li, Co-Chief Executive Officer of AGMH, said “This order will strengthen our ability to serve a growing and broad customer base. We can further enhance our expertise, technology, and talent to explore opportunities while helping our clients to innovate and thrive in the evolving market.”
Technical Data
CCNC stock is trading above the 20-Day and 50-Day Moving averages of $1.47 and $1.40 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.75. The stock is up 33% in the past month.
