Poker company’s stock almost doubles after announcing it’ll buy a cryptocurrency wallet

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Markets Insider

  • Shares of World Poker Fund Holdings, an over-the-counter name that develops “social gaming platforms,” spiked nearly 100% Thursday after announcing it would acquire a cryptocurrency digital wallet company.
  • World Poker Fund Holdings was founded in 2011 and is based in Los Angeles, California.
  • It has a market cap of roughly $98,000.
  • Shares eventually settled in near $0.89, or up about 60%.
  • It’s the latest in a string of companies, including a Chinese juice manufacturer, a British video game company, and a New York tea bottler, that have seen similar spikes after announcing pivots to blockchain technology or cryptocurrencies.