Changing the name wasn’t enough. It took a change in the ticker symbol to generate investor interest in BTC Digital Ltd.’s stock, which more than doubled on heavy volume ahead of Friday’s open.
The stock METX rocketed 202% in premarket trading, to make it the biggest gainer trading on major U.S. exchanges. Trading volume swelled to 1.9 million shares, compared with the full-day average over the past 30 days of about 57,400 shares. “The company’s management believes that ‘BTC Digital Ltd.’ better reflects the company’s current business operations,” the company said in a statement.