Priya Patel
TLDR:
- Future FinTech Group (NASDAQ:FTFT) Stock passed above its 200-day moving average, hitting $1.10.
- Institutional investors, such as JPMorgan Chase & Co. and State Street Corp, made changes to their positions in FTFT.
Future FinTech Group Inc. (NASDAQ:FTFT) saw its stock price surpass its 200-day moving average during trading, reaching $1.10 on Wednesday. The stock has been trading with a 200-day moving average of $1.06. This movement indicates a potential uptrend in the stock price.
Several institutional investors have recently adjusted their positions in FTFT. JPMorgan Chase & Co. significantly increased its stake in Future FinTech Group by 6,754.4% during the 1st quarter. State Street Corp and Mirae Asset Global Investments Co. Ltd. also raised their holdings in the company.
Future FinTech Group Inc. operates online shopping platforms in China, with segments like Shared Shopping Mall Membership Fee and Fruit Related Products. The company utilizes blockchain technology in its e-commerce platform, Chain Cloud Mall (CCM), and also operates a cross-border e-commerce platform, NONOGIRL.
Overall, the increase in FTFT’s stock price above its 200-day moving average and the interest shown by institutional investors suggest a positive outlook for Future FinTech Group.
