Yesterday, the Gex Management (OTCMKTS:GXXM) stock was in the news after the company’s subsidiary firm Gex Data Labs Inc made a key announcement with regards to the GoatX DeFi Platform. Gex Data Labs announced that the GoatX platform was going to start operating from September 14, 2021.
Considering the fact that Gex Management is a major shareholder in Gex Data Labs, the announcement came as a boost to its stock as well. The Gex Management stock managed to clock gains of as much as 3.50% as a consequence of the announcement yesterday.
In this context, it might be a good idea for investors to take a closer look at the nature of the product that is going to be launched by the company today. Gex Data Labs claims that the platform is a tool that can help both big ticket investors as well as institutional investors who wish to invest or trade cryptocurrencies by way of Decentralised Finance or DeFi platforms.
It is a product that could have considerable traction since both cryptocurrencies and DeFi have grown at a remarkable pace over the course of the past few years. It remains to be seen if the Gex Management stock can add to its gains today.