Thumbage recorded limit-up prices for two consecutive trading days following news that it would enter the cryptocurrency business.
As of 9:12 a.m. on the 5th, Thumbage reached a limit-up price of 395 won, up 91 won (29.93%) from the previous trading day. This marks a limit-up for two consecutive trading days following a 29.91% increase the day before.
Thumbage, previously an online and mobile game corporation, plans to enter the cryptocurrency business by adding items such as 'trading and brokerage of blockchain-based cryptocurrency assets' in its articles of incorporation through a shareholders' meeting held on that day. The announcement was made at the end of June but has recently gained attention, leading to a significant increase in stock prices.
Previously, corporations that announced their entry into the cryptocurrency business also saw their stock prices rise significantly. Biobridge Therapeutics' stock price quadrupled after selling its company to a U.S. cryptocurrency hedge fund and entering the cryptocurrency TREASURE business. Bitmax's stock price has also increased from the 1,000 won range to the 4,000 won range as it continued to purchase Bitcoin.