NASDAQ-listed company Thumzup Media $TZUP saw its stock price plummet by 58% during trading, dropping to $3.50.
Previously, it was reported that NASDAQ-listed Thumzup Media announced the acquisition of the Dogecoin mining company Dogehash through an all-stock transaction.
After the deal is completed, the new company will be renamed Dogehash and will trade under the new stock ticker $XDOG on NASDAQ.
Currently, Dogehash operates approximately 2,500 Scrypt algorithm ASIC miners in North America.
In addition to mining $DOGE and $LTC, Dogehash will also explore DOGE-based payment and reward scenarios.
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