Chinese social media e-commerce platform MOGU Inc. (NYSE: MOGU) has seen its stock price explode by 84-155% following the announcement of a $20 million cryptocurrency investment strategy approved by its board of directors on September 9, 2025.
The company plans to allocate corporate assets into Bitcoin, Ethereum, and Solana, along with related securities and investment products, as part of its treasury diversification efforts. Chairman Chen Qi has been granted full authority to determine the timing and amounts of crypto purchases, allowing the company flexibility to enter positions when market conditions appear favorable.
MOGU's stock surged from approximately $2.50 to as high as $7.35 in pre-market trading, with trading volume exploding to 27 million shares compared to its typical three-month daily average of just 5,500 shares. The move represents a major strategic shift for the fashion and lifestyle platform, which aims to prepare for next-generation AI products and services integration alongside its core fashion-related operations.
The company joins a growing list of China-based firms that have invested in cryptocurrencies, including DayDayCook Enterprise, Aurora Mobile, and Yunfeng Financial Group. Similar announcements from other companies have triggered comparable stock rallies in recent months, demonstrating how crypto-related announcements can drive major price movements in individual stocks.