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Wednesday, May 25, 2022

Meten Holding Group Ltd. (METX) Stock in Decline After Soaring on Wednesday, Here’s Why

Meten Holding Group Ltd. (METX), a company providing English language training services in China, has declined 1.43% in aftermarket trading session. As a result, the stock was trading at $0.21 when last checked. During Wednesday’s regular trading session, the stock surged by 5.90% and closed the day at $0.21.The increase in mid-day session could be attributed to the announcement regarding the launch of blockchain-related ELT courses. As soon as the stock gained some momentum, the investors started to short the shares of METX, causing a decline in the aftermarket trading session.

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Launch of ELT Courses

On Wednesday, METX announced its intends to launch the ELT courses related to Blockchain technology during the early days of March 2022. The company said that the courses were designed by Blockchain experts as well as English language experts who are part of the company. The courses are meant to provide the professionals of the Blockchain industry with professional English language training.

Update Regarding Crypto Business

On the 16th of February, METX announced the update regarding its cryptocurrency business. The company informed that it had put 867 mining machines in the operationalization stage. They include 147 mining machines which were purchased in small batches, while the rest, i.e. 720 mining machines, were purchased from AGM Group Holdings Inc. Cumulatively; the company has 1482 bitcoin mining machines having a computing power of 150PH/s.

METX Launched Trial of Metaverse Education Courses

On the 26th of January, METX announced the launch of the trial of its Metaverse vocational education courses. The courses were initiated during December 2021. The courses comprise numerous subjects, including game rendering, interior design, architectural visualization, and video post-production. The courses are for recently graduated individuals having zero knowledge of visual designing but are passionate to start their career in the same field.

What’s Next for METX?

Looking towards what’s coming ahead, the analysts are of the view that the short-term signals are positive for METX stock despite being in a wide falling trend. Hence, it holds a buying opportunity for the investors at this point.

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