- The stock price of Airnet Technology Inc (NASDAQ: ANTE) is trading at over 50% pre-market today. This is why it happened.
The stock price of Airnet Technology Inc (NASDAQ: ANTE) is trading at over 50% pre-market today. Since there is no recent direct news from the company or SEC reports, it appears that there are external factors at play.
One of those factors appears to be a sympathy play associated with the increase in Bitcoin prices. Even though AirNet is associated with providing in-flight solutions to connectivity, entertainment, and digital multimedia in China, the company had recently entered a deal with Unistar to buy 500 computer servers designed for mining cryptocurrencies.
And earlier this month, AirNet had entered an investment agreement with Northern Shore Group for obtaining either 401 A10 Pro or 1,200 588/580-8 computer servers specifically designed for mining cryptocurrencies depending upon availability prior to the closing date.
Yesterday, the price of the bitcoin cryptocurrency surpassed $50,000 for the first time and it has been continuing to climb.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.