MFH

Approval Announcement: Mercurity Fintech Holding Inc.'s subsidiary, Chaince Securities, has received FINRA approval for its Continuing Membership Application, enhancing its capabilities as a broker-dealer and allowing it to offer a wider range of financial services.

Future Plans: Chaince Securities aims to leverage this approval to provide strategic capital-raising solutions to micro and small-cap companies, further expanding its market presence and client service offerings.

Partnership Announcement: Mercurity Fintech Holding Inc. has partnered with BitGo to enhance its digital asset security and regulatory compliance, utilizing BitGo's trusted custody solutions and multi-signature wallets.

Strategic Goals: This collaboration aims to strengthen MFH's risk management practices, boost investor confidence, and bridge traditional finance with blockchain technology as the company expands its digital asset offerings.

Strategic Engagement with BitGo: Mercurity Fintech Holding (MFH) has announced a strategic partnership with BitGo, gaining access to their multi-signature wallets and institutional-grade custody solutions.

Recent Developments: MFH has seen an increase in institutional ownership, launched a subsidiary for AI cooling solutions targeting Nvidia GPUs, and joined the Russell Microcap Index.

Increased Institutional Ownership: Mercurity Fintech Holding Inc. has reported a rise in institutional ownership, with notable interest from major investors like BlackRock and Goldman Sachs, as indicated in recent SEC 13F filings.

Strategic Growth Focus: CEO Shi Qiu expressed optimism about this institutional interest, emphasizing the company's commitment to regulatory-compliant blockchain integration and licensed financial services to drive scalable growth in the fintech sector.

Increased Institutional Ownership: Mercurity Fintech Holding Inc. has reported a rise in institutional ownership, with major investors like BlackRock, Goldman Sachs, and UBS acquiring stakes, indicating growing confidence in the company's fintech initiatives.

Focus on Innovation and Compliance: The company aims to enhance its market position by prioritizing regulatory-compliant blockchain integration and scalable growth within the financial technology sector, as expressed by CEO Shi Qiu.

Institutional Investment Growth: Mercurity Fintech Holding Inc. has seen an increase in institutional ownership, with notable investors such as BlackRock and Goldman Sachs acquiring stakes, highlighting the company's strong position in the fintech sector.

CEO's Statement on Future Strategy: CEO Shi Qiu expressed optimism about the interest from institutional investors, emphasizing MFH's commitment to regulatory-compliant blockchain integration and its potential for scalable growth in the financial technology landscape.

U.S. Stock Market Performance: U.S. stocks declined significantly, with the Dow Jones dropping over 700 points on Monday, while several companies like Cytek Biosciences and Akso Health Group saw substantial gains in their share prices.

Notable Stock Movements: Cytek Biosciences announced a $50 million stock buyback program, leading to a 6.1% increase in its shares, while other companies such as Mesoblast Limited and Emergent BioSolutions also experienced notable increases in their stock values.

PIPE Financing Announcement: Mercurity Fintech Holding Inc. successfully closed a private investment in public equity (PIPE) financing, selling 1,470,000 ordinary shares at $6.81 each, raising approximately $10 million to support strategic initiatives in AI hardware and liquid cooling solutions.

CEO's Statement: CEO Shi Qiu expressed confidence in the company's direction following strong institutional backing, emphasizing that the funding will enhance operations and enable the company to meet the demands of AI-powered industries while delivering shareholder value.

Joint Venture Announcement: Mercurity Fintech Holding Inc. has formed a strategic joint venture with a high-tech enterprise to enter the AI hardware manufacturing sector, investing $9.8 million and holding a 51% stake, focusing on liquid cooling solutions for AI servers.

Company Overview: Mercurity is a digital fintech company engaged in distributed computing and digital consultation, aiming to enhance digital finance through innovative financial solutions and operational efficiency, with a current market cap of $395.3 million.

Financial Performance: Mercurity Fintech Holding Inc. reported a 110.03% increase in GAAP revenue for the first half of 2024, totaling USD$517,177, while also reducing its GAAP gross loss by 38.18% compared to the same period in 2023.

Forward-Looking Statements: The company issued caution regarding forward-looking statements, highlighting potential risks and uncertainties that could affect future business performance and financial results.

U.S. Stock Market Performance: U.S. stocks rose significantly, with the Dow Jones gaining over 400 points, driven by notable increases in companies like BridgeBio Pharma, which saw a 22.3% rise after FDA approval of its drug Attruby for treating ATTR-CM.

Other Notable Stock Gains: Several other companies experienced substantial stock price increases, including Rigetti Computing (69%), Scholar Rock (27.2%), and D-Wave Quantum (26.3%), following various announcements and financial results that exceeded expectations.

Acquisition Approval: Mercurity Fintech Holding Inc. announced that its subsidiary Chaince Securities has received FINRA approval for the change in ownership of J.V. Delaney & Associates, allowing Chaince to acquire 100% ownership and enhance its digital finance services while adhering to regulatory requirements.

Strategic Vision: The acquisition aims to integrate traditional financial services with innovative digital finance solutions, reflecting Mercurity Fintech's commitment to compliance, operational integrity, and providing a secure financial ecosystem for clients globally.

Mercurity Fintech's Participation: CEO Shi Qiu represented Mercurity Fintech at the 4th Annual Nasdaq Small-Cap Forum, emphasizing the company's commitment to adapting its strategy based on insights from industry leaders regarding small-cap company challenges and trends.

Strategic Growth Focus: The discussions at the forum highlighted the importance of corporate governance, investor relations, and financial flexibility, which align with Mercurity Fintech's goals to enhance operational efficiencies and expand its service offerings in the evolving digital finance landscape.

U.S. Stock Market Update: U.S. stock futures are up, with Dow futures increasing over 50 points, while several companies like Advance Auto Parts and Harrow, Inc. reported disappointing quarterly results, leading to significant pre-market declines in their stock prices.

Notable Stock Movements: Advance Auto Parts shares dropped 9.6% after reporting a loss and lower sales than expected; other companies such as Ibotta, Taysha Gene Therapies, and Super Micro Computer also experienced notable declines in pre-market trading following poor earnings reports.

Establishment Labs Holdings Inc. Approval: Shares of Establishment Labs rose 28.3% in pre-market trading after receiving U.S. FDA approval for Motiva Implants, contributing to a broader trend of stock gains among various companies in the market.

Stock Movements: Several stocks experienced significant pre-market fluctuations, with Fangdd Network Group rising 51.3% and Volato Group dropping 19%, highlighting volatility in the market following recent announcements and approvals.