Are you looking for small-cap stock prices? If so, have you seen The9 Limited’s (NASDAQ:NCTY) price movement? If you haven’t, keep reading. Why? Because the story behind the NCTY stock increasing more than 130% today, October 19th, is worth following.
Small-Cap Stock Prices: The9 Limited
At the time of writing, looking at the stock market live, it’s evident that the NCTY stock has no plans on slowing down. And why should it? The Chinese-based company has a lot to celebrate.
The9 Limited today announced that Jie Quin, an activist investor, acquired a 7.4% stake in the company. For perspective, this means Quin acquired 9 million shares of The9 Limited.
For those who don’t know, The9 is an internet and mobile games developer, headquartered in Pudong, Shanghai, China. The company was founded in 1999.
There are multiple reasons for why this news caused the NCTY stock price to increase as much as it did. Two, in particular, take precedence. First, Quin already works as a consultant for The9 Limited, meaning there is trust established between the two parties. Second, Quin has more than 20 years of experience working in the gaming and internet sector.
By acquiring a stake in the company, Quin may now have more of a say in the company. And with his experience, he likely has a lot to say.
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A Nasdaq Stock: The9Limited
According to Yahoo Finance, as of 1:29 p.m. EDT, The9 Limited is trading at $3.74, which puts the stock up 137.03%. Earlier in the trading day, the NCTY trading price hit $4.56.
The Takeaway
Small-cap stock prices are all over the place today, but one thing that’s for sure is that NCTY is now a trending stock ticker of the day. But will it continue? Will Quin’s nearly 10% stake in the company lead to great things? Mediocre things? Nothing at all?
Let us know what you think in the comments below!
Featured Image: Depositphotos/© 18percentgrey
