- The stock price of Ebang International Holdings Inc (NASDAQ: EBON) increased by 14.22%. This is why it happened.
The stock price of Ebang International Holdings Inc (NASDAQ: EBON) – a company that engages in the research, design, and development of application-specific integrated circuit chips and manufacture of Bitcoin mining machines – increased by 14.22% as it went from a previous close of $4.22 to $4.82.
One of the biggest reasons why the stock price of Ebang increased is likely due to a sympathy play associated with the cryptocurrency Dogecoin. Ebang mines Dogecoin and Dogecoin has hit a record high.
Over the past week, Dogecoin has increased over 480% as it went from $0.061935 as of April 9 at 4 PM ET to $0.362531 as of 4:29 PM today.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.