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The Motley Fool Australia »Stock Market News» Fatfish (ASX: FFG) stock is up 155% today

Gretchen Kennedy | 16 February 2021 4:19 pm | More on: FFG ICI

Fatfish Group Ltd (ASX: FFG) share price turns gangbuster today, at the time of writing, shares of the global tech investment company have soared a whopping 155 percent, up 43% to 24 cents a share

Let’s take a look at what may have set the Fatfish stock price on fire today as there is no new news from the company

We called yesterday that Fatfish stock was up 74%, the price surge came after Fatfish affiliate iCandy Interactive Ltd (ASX: ICI) announced the conditional sale of iCandy Digital to Rightbridge Ventures for $ 4.8 Million

The transaction does not result in any material change in Fatfish’s interest in iCandy, so it is not necessarily a price appreciator

The company claims its price rally was triggered by the buy it now and late payment (BNPL) purchase that the market has seen lately through companies such as Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) Has

Both Afterpay and Zip Co share prices have more than doubled in the past 6 months

Investors are likely to hear the price of Fatfish stock on Thursday, March 18th February 2021, keep an eye out when the company officially launches its new Smartfunding BNPL service

Since we talked about how Fatfish is invested in Bitcoin last Wednesday, the company’s shares have risen by around 560%

Fatfish is exposed to Bitcoin through its Swedish subsidiary Abelco Investment Group AB

Kin Wai Lau, CEO of Fatfish, is scheduled to conduct an interview about the InvestorStream program later this week.He will discuss cryptocurrency pricing and the company’s upcoming transaction with Abelco Investment Group through the InvestorStream program

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Gretchen Kennedy has no position in any of the stocks mentioned. The parent company of Motley Fool Australia, Motley Fool Holdings Inc owns shares in ZIPCOLTD FPO The Motley Fool Australia owns shares in AFTERPAY T FPO The Motley Fool has a disclosure policy This article provides general investment advice only (under AFSL 400691) Authorized by Bruce Jackson

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Fatfish Group, FFG

World News – AU – The share price of Fatfish (ASX: FFG) has risen 155% today