15 AI Stocks That Skyrocketed in Q4

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3. Mercurity Fintech Holding Inc. (NASDAQ:MFH)

Number of Hedge Fund Holders: N/A

Stock Price Performance in Q4 2024: ~293%

Mercurity Fintech Holding Inc. (NASDAQ:MFH) is a New York-based company that operates as a fintech company offering business consultation, distributed storage, and computing services. Its services include cryptocurrency mining, providing computing power to mining pools, and cloud storage solutions for decentralized platforms. In December, the company revealed plans to establish a joint venture in Hong Kong with a high-tech company specializing in precision components for new energy vehicles and smart devices. The venture aims to concentrate on manufacturing AI hardware, including precision parts for AI servers and advanced cooling systems.

Mercurity Fintech’s (NASDAQ:MFH) stock performance remained tame in October but experienced a significant rise in share price starting November 8, with some fluctuations observed. Some important happenings included Mercurity Fintech’s CEO, Shi Qiu, emphasizing the company’s commitment to growth and investor relations after participating in the 4th Annual Nasdaq Small-Cap Forum, focusing on adapting to industry trends and improving corporate governance. Moreover, the company’s subsidiary Chaince Securities, received FINRA approval for its acquisition of J.V. Delaney & Associates, advancing its strategy to integrate digital and traditional financial services.

In December, Mercurity Fintech (NASDAQ:MFH) signed a term sheet for a joint venture in Hong Kong focused on AI hardware manufacturing and advanced cooling solutions, with an initial investment of $9.8 million. Furthermore, it closed a private investment in public equity (PIPE) financing, selling 1.47 million shares to an institutional investor at $6.81 per share. The proceeds are aimed at supporting AI hardware manufacturing and advanced liquid cooling technologies to improve AI-driven infrastructure and business growth. It is important to note that Mercurity Fintech (NASDAQ:MFH) is largely influenced by its top shareholders, with over 50% of the company controlled by a few of the largest investors.

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