Origin Agritech Ltd. (NASDAQ: SEED) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has presented its strategy surrounding SEED+ Rural E-Commerce with Blockchain technologies. Of course, this led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from SEED, and what we’ll be watching for ahead.
SEED Gains On Blockchain-Related Presentation
As mentioned above, Origin Agritech is having an incredibly strong start to the trading session this morning after a presentation. The presentation took place yesterday when Dr. James Chen, CEO at SEED made an appearance at the “Elastos x BITMAIN Meetup: Blockchain for Scaling Large, Enterprise DApps.” At the meetup, Dr. hen provided a presentation of the company’s strategy for SEED+ Rural E-Commerce with Blockchain Technologies, leading to excitement. In a statement, Dr. Chen, CEO at SEED had the following to offer:
Origin has 20 years of operation in rural China and has established strong brand name across vast farmland in China… We’re extending our competitive advantages for rural customer bases, management experience and business understanding in rural regions, and supply source tracking for agricultural products, and we plan to startup social network e-commerce platform with products including but not limited to agricultural inputs.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. After all, the presentation fueled excitement surrounding Origin Agritech’s blockchain tracking capabilities. So, it’s no surprise to see that the stock is on a run for the top today. Currently (8:53), SEED is trading at $1.23 per share after a gain of $0.23 per share or 23.00% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on SEED. In particular, we’re interested in following the company’s work through the use of blockchain to track the origin of agricultural products, and we’re excited to see how this uptakes in the rural farming communities. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks.
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