QMMM Shares Hit 52-Week High After Move Into Cryptocurrency, Blockchain Sector

By Chris Wack

QMMM Holdings shares were 42% higher, at $16.04, after the company it was using its technology to enter into the cryptocurrency sector.

The stock hit its 52-week high of $22.24 earlier in the session, and is 148% higher in the past 12 months.

The company said its expansion will integrate artificial intelligence and blockchain technology to create next-generation cryptocurrency analytics and a crypto-autonomous ecosystem.

QMMM said it is aiming to connect data providers and consumers through a decentralized data marketplace powered by blockchain.

The company also plans to establish a diversified cryptocurrency treasury initially targeting Bitcoin, Ethereum, and Solana. The treasury is expected to reach an initial scale of $100 million.

Write to Chris Wack at chris.wack@wsj.com