Jiuzi Holdings Inc (JZXN) saw a significant price increase of 21.99% in pre-market trading, as the stock crossed above its 5-day SMA.
This surge is attributed to Jiuzi Holdings entering into a strategic cooperation with a Web3 technology firm to develop an AI-powered cryptocurrency trading platform, which includes a planned $1 billion investment in tokens. This collaboration aims to enhance market applications and could generate substantial unrealized gains, strengthening the company's financial position.
The partnership not only positions Jiuzi Holdings to capitalize on the growing cryptocurrency market but also integrates advanced AI technology, potentially creating new business opportunities and enhancing long-term value for the company.
Jiuzi Holdings Inc is a holding company principally engaged in operating new energy vehicles (NEVs) retail stores. The Company's main businesses include sales of new energy batteries, including production, transportation, and packaging, sales and production of electric vehicles, including two-wheelers, three-wheeled electric scooters, and slow-speed vehicles. The Company sells new energy vehicles under brand name Jiuzi. The Company mainly operates its businesses in the domestic and overseas market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
