Reported about 14 hours ago
Metaplanet Inc., a Japanese firm that has transitioned from hospitality to Bitcoin acquisition, has surpassed chipmaker Kioxia in market capitalization. The company's shares soared nearly 400% in less than two months, reaching a market value of over ¥1 trillion ($6.9 billion) as it announced a significant Bitcoin purchase, riding the ongoing crypto rally. Despite its rapid growth, there are concerns regarding the sustainability of its stock performance, with a notable percentage of short positions reported.
Source: YAHOO