When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
WBAI - Why Shares of 500.com Limited Popped 75% Today
500.com Limited American Depositary Shares each representing 10 Class A shares
Shares of 500.com Limited (NYSE: WBAI) jumped as much as 75% in trading on Tuesday after announcing an acquisition and as Bitcoin (CRYPTO: BTC) briefly climbed to over $50,000. Shares settled at a 38.9% gain as of 3:20 p.m. EDT.
500.com announced that it will issue 44.4 million Class A shares to acquire the Blockchain Alliance, amounting to about 10% of the company's shares outstanding. This includes the acquisition of BTC.com and the mining pool business of Bitdeer Technologies.