Code Chain New Continent (NASDAQ:CCNC) Stock Jumps 1.6% – Still a Buy?

Code Chain New Continent Limited (NASDAQ:CCNC) rose 1.6% during trading on Wednesday. The stock traded as high as $1.28 and last traded at $1.24. Approximately 73,048 shares changed hands during trading, an increase of 293% from the average session volume of 18,580 shares. The stock had previously closed at $1.22.

Code Chain New Continent Stock Performance

The company has a 50 day moving average price of $1.34 and a 200 day moving average price of $2.00. The company has a market capitalization of $2.02 million, a price-to-earnings ratio of -0.23 and a beta of 1.04.

Code Chain New Continent Company Profile

Code Chain New Continent Limited (NASDAQ: CCNC) is a technology company that has focused on blockchain-related businesses and digital assets. Its activities have included cryptocurrency mining, digital-asset management and the development of blockchain infrastructure and applications.

The company was formerly known as Wecast Network, Inc and adopted the Code Chain New Continent name as its business strategy shifted toward blockchain and cryptocurrency-related opportunities. Publicly available information about its current operating activities, products and geographic reach is limited.

Code Chain New Continent has been associated primarily with operations in China and has reported pursuing additional blockchain and digital-asset initiatives.