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Coolpad Group ( (HK:2369) ) has issued an announcement.
Coolpad Group has adopted an investment plan allowing it to deploy up to US$5 million in U.S.-listed securities and ETFs connected to the crypto assets sector through on-market purchases. Management views this initiative as a way to deepen its exposure to blockchain and digital currencies, broaden its business mix and create an alternative income channel beyond its traditional operations.
Under this plan, wholly owned subsidiary Digital Tech has already acquired 39,000 shares of MicroStrategy at an aggregate consideration of about US$4.98 million, triggering a discloseable transaction under Hong Kong listing rules. The move underscores Coolpad’s strategic tilt toward crypto-related assets but also exposes shareholders to heightened market volatility, with the board retaining full discretion over the timing, type and scale of future purchases.
The most recent analyst rating on (HK:2369) stock is a Sell with a HK$0.69 price target. To see the full list of analyst forecasts on Coolpad Group stock, see the HK:2369 Stock Forecast page.
More about Coolpad Group
Coolpad Group Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates in the technology sector and has been expanding into digital currencies and crypto-related activities. The company seeks to diversify its business segments and income streams by investing in securities linked to blockchain technology and crypto assets, particularly in U.S.-listed equities and exchange-traded funds.
YTD Price Performance: -32.29%
Average Trading Volume: 1,833,443
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$215.8M
See more insights into 2369 stock on TipRanks’ Stock Analysis page.