Attis Industires (MRDN) Stock: Headed For The Top On Blockchain Acquisition

Attis Industries, Inc. MRDN Stock NewsAttis Industries, Inc. (NASDAQ: MRDN), a company that recently underwent a name change from Meridian Waste Solutions, is having an overwhelmingly strong start to the trading session this morning after the company announced the execution of a non-binding letter of intent to purchase a transactional-based virtual currency company. Of course, this news led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to MRDN ahead.

MRDN Gains On Blockchain-related Acquisition 

As mentioned above, Attis Industries is having an overwhelmingly strong start to the trading session this morning after announcing that it has executed a non-binding letter of intent to purchase a transactional-based virtual currency company. Ultimately, the goal is for the company to blend FinTech in with its innovations in healthcare platforms.




If completed, MRDN said that the acquisition would provide the company to replace a significant portion of revenue and earnings from the proposed sale of its website assets. At the same time, the acquisition would allow the company to continue to focus on innovative technology growth industry segments. In a statement, Jeff Cosman, CEO at MRDN, had the following to offer:

Today’s announcement commences a potential new division for Attis Industries as we pivot from our previous sole focus in the waste industry to our new pathway as an innovation and technology company… I’m amazed with our new partner’s management team of proven entrepreneurs and their track record of success, all of which will be an asset to our existing senior leadership team at Attis. Virtual currency and its underlying blockchain technology have the potential to enhance the current banking environment. We see highly compelling opportunities for innovation in this area, both in banking and in our other existing businesses. We intend to be at the forefront of virtual currency adoption, a trend that is already strong as demonstrated by many Fortune 500 companies accepting the currency for payments.

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 positive. As Attis  continues to work to restructure, this potential transaction is likely to be a step in the right direction. So, it’s no surprise that we’re seeing strong gains in the value of the stock today. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:14), MRDN is trading at $0.76 per share after a gain of $0.14 per share or 21.92% 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 MRDN. In particular, we’re interested in seeing if this non-binding letter of intent becomes an acquisition. We’ll also be watching the continued work to restructure the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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