Shares of Molecular Data Inc. (MKD) had increased 3.51% in after-hours trading to $0.5693 as of last check. In the regular session, MKD stock decreased -6.78 percent or $0.04 to close at $0.55. Over the course of the day, the MKD stock price fluctuated between $0.5105 and $0.6024. MKD traded 2.23 million shares on the day, more than its 50-day daily volume of 1.21 million shares and less than its year-to-date volume of 3.73 million.
MKD stock has declined -65.19% over the past 12 months, and it has declined -11.29% over the past week. During the last six months, MKD stock lost 63.09%, while during the last three months the stock lost 31.38 percent. MKD is down -34.52% for the year so far. As a result of entering into a partnership for its digital efforts, MKD stock rose in extended trades.
Who has MKD Stock partnered with?
Molecular Data offers integrated solutions to connect participants along the value chain of the chemical industry in China. The SaaS suite MKD offers is intended to solve pain points for traditional chemical industry participants, such as e-commerce, financial, warehousing, and logistics solutions. MKD provides e-commerce solutions based on a comprehensive knowledge engine and artificial intelligence (AI). MKD’s online platform offers molbase.com, molbase.cn, the Chemical Community App, and other ancillary platforms.
A partnership between Molecular Data and Wanxiang Blockchain aims to co-create a digital industrial park and a digital e-commerce platform. As the founder of Ethereum and Chief Scientist of Wanxiang Blockchain Labs, China Wanxiang Holdings has been deeply engaged in the nascent blockchain ecosystem since 2015. With the establishment of Shanghai Wanxiang Blockchain Inc. in 2017, Wanxiang strengthened its position as a leader in the Chinese blockchain industry.
The amount of investment Wanxiang Blockchain has made in blockchain projects has surpassed 1 billion RMB to date, consisting of more than 200 global projects. The current partnership will enhance MKD’s efficiency of chemical e-commerce transactions by addressing bottlenecks. MKD will use credible ledgers and digital identities in the digitization process.
Digital Strategy and product launch:
Molecular Data (MKD) recently signed four memorandums of understanding (MOUs) concerning product upgrades with a product user, a financial institution, an investment fund and a supply chain services provider in Shanghai. The cooperation will allow many more SMEs to tap into supply chain and financial services. A logistics cooperative approach will also be explored in order to address emerging logistical and infrastructure needs.
Molecular Data (MKD) already uses digital tools, such as big data and neuron networks, in order to optimize the industry supply chain. By selectively using blockchain technologies, such as Blockchain Oracle, the scientific research progress of domestic pharmaceutical companies will be improved.
