China Xiangtai Food Shares Rise 13% After New Cryptocurrency Hires
By Chris Wack
China Xiangtai Food Co. shares were up 13% to $2.40 after the company said it named blockchain specialist Dr. Erick W. Rengifo as chief strategy officer and director.
The company, which says it is engaged in agricultural business with a diversified expansion strategy, also named Dr. Jiaming Li as president. He is the founder of MineOne Partners Ltd., a crypto mining fund management company. He succeeds Xiaohui Wu, who resigned Monday.
Dr. Rengifo is a professor of economics at Fordham University in New York. He is the founder of Terra Global Asset Management LLC, a registered investment adviser, and Terra Fintech LLC, a technology firm cataloged by the U.S. Securities and Exchange Commission as a large trader.
China Xiangtai said Dr. Rengifo specializes in full latency trading spectrum, algorithmic and mathematical and statistical strategies, as well as active and passive portfolio management, with several years of research experience in blockchain technology and its applications as well as significant experience in cryptocurrencies.
Volume for the stock was 900,000 shares at 12:45 p.m. ET, compared with its 65-day average volume of 385,000 shares. The stock hit its 52-week high of $2.43 earlier in the session.
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(END) Dow Jones Newswires
December 06, 2021 13:21 ET (18:21 GMT)
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