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Juice-and-Blockchain Outfit Soars After Regaining Nasdaq Compliance

Juice-and-Blockchain Outfit Soars After Regaining Nasdaq Compliance

(Bloomberg) -- Future FinTech Group Inc. -- a provider of fruit juice and blockchain technology -- briefly doubled Thursday, sending shares to the highest since May on more than 50 times average daily trading volume, after it regained compliance with Nasdaq Capital Market listing requirements.

The company regained compliance after filing a 10-K form on September 3 and 10-Q forms on September 30 for the periods ended March 31 and June 30.

The juice company turned fintech was originally known as SkyPeople Fruit Juice Inc. until it changed its name in June 2017 during an effort to rebrand and enter the fintech space.

In addition to selling fruit juice, the company now takes part in the research and development of digital asset systems based on blockchain technology and also operates an incubator for application projects using the technology.

According to the Future FinTech website, it is in the process of expanding its financial technology business by developing an online shopping mall platform using blockchain technology.

To contact the reporters on this story: Scott Schnipper in New York at sschnipper@bloomberg.net;Jarrell Dillard in New York at jdillard11@bloomberg.net

To contact the editors responsible for this story: Courtney Dentch at cdentch1@bloomberg.net, Scott Schnipper, Jim Silver

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