Mogu Stock Soars 190% Following $20 Million Digital Asset Investment Plan

Shares of Mogu Inc. (NYSE: MOGU), a Chinese online fashion and lifestyle platform, experienced a remarkable surge of more than 190% on Thursday morning following the company’s announcement of an investment plan for digital assets. The company has allocated up to $20 million from its treasury to purchase assets, primarily Bitcoin, Ethereum, and Solana, alongside related investment products and securities. This strategic move aims to diversify the company’s holdings and enhance its ability to develop innovative AI products and services.