AGM Group Holdings Inc. (AGMH) stock prices were down by a marginal 1.52% as of the market close on August 6th, 2021, bringing the price per share down to USD$9.10 at the end of the trading day. Subsequent after-hours fluctuations saw the stock rise by 5.23%, bringing it up to USD$9.66.
Foray into Blockchain Tech
August 5th, 2021 saw the fintech software company announce its entry into the ASIC chip research and development field. This will, in turn, commence the manufacturing and sale of high-performance ASIC computing equipment. AGMH stock hired new executives to lead and operate the new business segment, with a focus on the institutional market.
Appointment of Executives
Both Mr. Li, the newly appointed Co-CEO, and Mr. Zhu, the new CSO of AGMH stock, bring an impressive track record of experience and industry resources in chip designs and blockchain applications. Having been a pioneer of the ASIC chip design space, Mr. Li has an established history in the chip production supply chain. Mr. Li designed the first-generation ASIC that could be applied to Bitcoin computing. He also successfully completed the mass production of 16nm and 10nm ASIC chips at TMSC in 2015 and Samsung in 2017.
Strength of Leadership
Mr. Zhu, on the other hand, has demonstrated an in-depth understanding of the application of blockchain technology. He also brings to the table an established reputation and extensive network within the industry. This is a result of his extended time having been working on high-performance computing research over the past several years.
Expanding Scope of AGMH Stock
The newly appointed executives are keen to facilitate the launch of AGMH stock’s high-performance ASIC and ASIC miner. The goal is to penetrate the market effectively enough to become one of its key players. The company’s proprietary ASIC miner and its parameters are forecasted to be released in the near future. In the meanwhile, the new leadership team will be working to facilitate the expansion of its product into overseas markets. The executives are targeting institutional clients and networks abroad with the aim of facilitating the provision of innovative energy optimization solutions for its clients.
Future Outlook for AGMH Stock
Armed with a new leadership team, AGMH stock is poised to capitalize on its recently initiated foray into the blockchain technology space. The company is keen to implement the maximally effective penetration of the burgeoning market. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
