U.S. Markets open in 7 hrs 5 mins

Future FinTech Jumps, Then Falls After Touting Blockchain Ties

Lily Katz
Future FinTech Jumps, Then Falls After Touting Blockchain Ties

Future FinTech Group Inc.’s rebranding efforts during this past winter’s Bitcoin craze appear to be losing their juice. Shares of the Xi’an, China-based firm, formerly known as SkyPeople Fruit Juice Inc., jumped as much as 27 percent Friday after the company announced a “strategic transformation plan” involving blockchain. The market’s enthusiasm may have been tempered after investors realized that the firm had already discussed plans for a “strategic transformation” -- and blockchain -- in the past.