Molecular Data Inc. (MKD), a company operating a Chemical e-commerce business through its subsidiaries, has seen a gain of 2.34% in the premarket trading session. As a result that, MKD stock is currently trading at $0.35. There appears to be no specific reason for this rise in MKD stock. That surge has come after MKD stock plummeted by 20.47% and closed the day at $0.34 on Wednesday. So let us discuss some recent past news of MKD stock.
Strategic partnership memorandum
On the 13th of September, MKD announced to have reached a strategic partnership memorandum for a potential transaction. The transaction could include a stake in a renowned Chinese logistical company. The chemical logistics business surpassed a milestone of $50 billion in 2020. According to careful estimates, companies around the globe deploy about 300,000 trucks in the transport of hazardous chemical materials. According to THE COMPANY, the collaboration would result in the deployment of systems. That would eventually result in accurate dispatching of these trucks. A strengthened logistics capability would address inadequacies in transactions.
Collaboration with US investment firm
On 2nd September, MKD announced that it had entered into a collaborative partnership with a US investment firm. According to the company, the partnership would result in the development of global Blockchain data centers. Apart from that, the partnership would result in the development of renewable sustainable energy projects as well. The company said that the partnership would address the bottlenecks in the global chemical space. It would also result in the establishment of commercial-scale Blockchain data centers across the United States.
Accolade for MKD
On the 19th of August, MKD was named among the top 30 outstanding enterprises in China’s Industrial Internet industry. That was announced in the 2021 China Industrial Internet Annual Conference and China Industrial Internet Outstanding Enterprise Award Ceremony. Number of Chinese internets and Supply Chain related entities hosted the conference in Beijing. The organizing committee scrutinized nearly 60 participating companies from multiple dimensions.
MKD partnership with Wanxiang Blockchain
On the 11th of August, MKD announced to have entered into a partnership with Wanxiang Blockchain. Wanxiang Blockchain is a nascent Chinese blockchain enterprise. The partnership was meant to create avenues for cooperation in domains involving a digital industrial park and a digital e-commerce platform. The companies said that the partnership would involve addressing the bottlenecks in Chemical e-commerce. It would also aim to increase the transaction efficacy. The companies said that the digitization process would involve the utilization of credible ledger and also of digital identities.
What future holds for MKD?
Recent statistics reveal a grim outlook for MKD stock. The stock has decreased by 32% during the past one month. During the last half-year, MKD stock has declined by 74%. Future picture looks bleak as well, with the EPS of MKD expected to decline some 51% during the current fiscal. So, based on these statistics, MKD stock is likely to face testing times in the near future.
