Notable News Spotlight: Future FinTech Group Inc. (NASDAQ:FTFT)

Future FinTech Group Inc. (NASDAQ:FTFT) The stock transacted 73087 shares during most recent day however it has an average volume of 280.89K shares. It spotted trading -57.89% off 52-week high price. On the other end, the stock has been noted 185.71% away from the low price over the last 52-weeks.

On April 9, 2020, Future FinTech Group Inc. (NASDAQ:FTFT) a leading blockchain e-commerce and financial technology company, revealed that the Company has relocated its headquarters from Xi’an City to Beijing. On March 30, 2020, the Company announced that its headquarters would be moved from Xi’an to Beijing.  the Company has completed the relocation work and the new address of our headquarters is: Room 2103, 21st Floor, SK Tower. 6A, Jianguomenwai Avenue, Chaoyang District, Beijing, China.

Beijing is China’s political, cultural, international communication, science and technology innovation center with a comprehensive talent structure and business environment of science and technology, culture,and finance. The relocation of the headquarters from Xi’an, a regional city, to Beijing, an international center, indicates that the Company is aimed to realize cross regional and international development in the field of e-commerce and financial technology services supported by science and technology.

The relocation of Company’s headquarters to Beijing is a part of our strategic plan to build a national and international e-commence and fintech company, to help us attract excellent talent from China and internationally, and to connect us with more and better strategic resources in China, said Mr. Shanchun Huang, CEO of Future FinTech Group Inc.. Blockchain Technology and its applications,cross-border e-commerce, and high-quality financial services will be the directors for our future development. We believe it is the right choice to transform from a traditional manufacturing enterprise to a modern enterprise with e-commerce, blockchain application and fintech services. To pursue future development in this fast changing world, we must take the road of cross regional and international markets. We believe that by relying on Beijing’s sound economic and financial environment, rich talent pool and capital resources, the Company’s main business will rise to a higher level, so as to bring more returns to investors.

Its earnings per share (EPS) expected to touch remained 55.50% for this year while earning per share for the next 5-years is expected to reach at 15.00%.

The company has 34.75M of outstanding shares and 9.02M shares were floated in the market. According to the most recent quarter its current ratio was 0.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 21.61% from the mean of 20 days, 28.60% from mean of 50 days SMA and performed 42.36% from mean of 200 days price. Company’s performance for the week was -3.23%, 45.61% for month and YTD performance remained 166.61%.

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