Shares of Delta Technology Holdings Limited - Ordinary Shares (NASDAQ:DELT) more than doubled Friday morning after an eTradeWire report noted the company is reportedly creating a blockchain framework for the internet of things industry.
What You Need To Know
Delta Technology, a China-based nano-cap company that investors in green innovation with a focus on chemical products, is reportedly partnering with Chinese giants like Alibaba Group Holding Ltd (NYSE:BABA), ZTE, and Huawei to create a blockchain framework for the internet of things specifically for the chemical industry, eTradeWire said.
Why It's Important
"If reports are true this represents an opportunity for Delta Technology Holdings to increase their profitability in today's economic environment and well into the future," the report said.
What's Next?
At time of publication, the stock traded up 241 percent at $3.88 per share.
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