THELOGICALINDIAN - The Shenzhen Exchange in China has started arise bottomward on companies application ambiguous blockchain affiliations to addition their banal prices
Companies are consistently on the cruise for any agency to addition their banal price. Such efforts can ambit from acid costs to creating avant-garde new products. A contempo trend is for companies to jump on lath the blockchain appearance to accommodate an burning banal boost. The Shenzhen Exchange in China is accepting none of this, however, and has started cracking down on companies who are ambiguous consumers over claims of blockchain connections.
A cardinal of companies in the Chinese bazaar accept proclaimed some anatomy of blockchain affiliation, which has resulted in some affecting increases in banal value. One such aggregation is Zhejiang Enjoyor Electronics Co., Ltd., who acquaint on amusing media that one of their firms entered into a affiliation to affair blockchain-based electric abstracts argumentative certificates.
Needless to say, this acquired an access in absorption for the banal of Zhejiang Enjoyor Electronics Co., Ltd., consistent in added sales and a college banal price. This bent the absorption of the Shenzhen Exchange, the barter area the aggregation is listed.
The barter again asked the aggregation for added capacity in adjustment to ensure there were no ambiguous or apocryphal statements. Some of the questions asked included how abounding shares it holds in the blockchain company, back the affiliation took place, and added banking data. In the end, the aggregation deleted their amusing media post.
The electronics aggregation is not abandoned in application the blockchain as a agency for self-promotion. The Shenzhen Exchange says that they accept questioned 17 companies over such claims. The Shanghai Exchange additionally letters that they accept articular 10 companies who are ambiguous investors about their accurate affiliation to blockchain technology.
This affair is acceptable added common, causing the Shenzhen Exchange to column the following:
This abnormality is occurring throughout the world. Companies accept alike added blockchain to their name and apparent their amount explode. A UK aggregation had their stock access 433% in aloof a few hours due to the name change, and an algid tea aggregation saw agnate results. Alike companies like Hooters accept jumped on lath the bandwagon, but the best belled was Eastman Kodak, who saw their shares jump by 60%.
What does this all mean? It agency that investors should do their appointment and apprehend that best companies are accommodating to jump assimilate the latest trend, or lie about it, in adjustment to artificially addition their stocks.
Have you been absorbed into advance in a aggregation by them claiming some array of blockchain connection? Let us apperceive in the comments below.
Images address of Pixabay and Bitcoinist archives.
