MOGU is a fashion house based in China. Its stock rose above 80% once it informed investors that $20 million would be allocated to adding crypto assets onto its balance sheet. Why did MOGU decide to invest?
The following is a summary of the information that you will find on this page.
- MOGU’s shares surged 84% in value after an announcement by the social media company that they would be buying $20 million worth of crypto assets.
- Chen Qi, the chairman of the company will decide when the money is to be used to purchase crypto.
In a press release issued recently, it was revealed that the board of directors of this online platform for fashion and lifestyle had decided to invest up to 20 million dollars of its corporate assets in crypto assets. Bitcoin, Ethereum and Solana are among the assets.
MOGU Inc., a Chinese social media platform for e-commerce was founded in 2011. Platform focuses on content related to household goods, fashion and other services. MOGU’s website brings together merchants, KOLs, and users.
MOGU has added cryptocurrency to its financial statements. hopes As it prepares to enter the market, it will be able to diversify not just its holdings in treasury but also its operating capabilities. AI Products to complement its existing fashion services.
Board of Directors grants Chairman Chen Qi full authority in deciding when funds are to be used to purchase crypto assets.
This announcement brings the company into line with a few other China-based companies that have already invested in cryptocurrencies such as DayDayCook EnterpriseAurora Mobile Group. Yunfeng Financial Group.
Following the announcement that they will allocate a part of their money to buying cryptocurrency, these companies’ stocks have also risen.
Aurora Mobile, for example. announced in June 2025 that its board approved a plan to convert up to 20% of cash & equivalents into Bitcoin (BTCAfter the announcement, shares of its company soared nearly 10% in pre-market trade.
Mogu stock rises by 84% after investors embrace crypto-shift
MOGU stock rose a day after it was announced. shot up In the market, it has risen by over 80%. The share price has increased by more than 80% since this announcement. The current price is $4.61.
MOGU’s shares traded at low levels before the announcement. In recent days, it was trading as low as $3. The stock may rise even more if future announcements bring the news that the chairman has decided to purchase crypto.
Many companies who take this route are often a bit more expensive. “digital asset treasury” Recently, these firms have used the announcements of their recent crypto purchase to improve financial forecasts and boost the stock value. Recently, these firms have been able to improve their financial outlook. experienced A “free-fall” Strategy and Metaplanet have both experienced a drop in popularity during this period.
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Source: crypto.news
