Ripple Effect

image source: Seagate.com

image source: Westernunion.com

Shares of Seagate, the largest maker of computer drives, are surging after a little-followed blog contributor suggested the company may have a stake in Ripple, the company behind the third-most-valuable cryptocurrency. The stock’s rally comes just days after Western Union was the subject of similar revelations.

Shares of Seagate rose 7 percent to $45.95 at 10:53 a.m. Monday 8th January in New York, after gaining as much as 16 percent. The stock reached its highest level since May 2015. Western Union climbed as much as 7.8 percent Monday 8th January.

Cryptocurrencies are starting to positively impact the stock market.

Source and further reading: https://www.bloomberg.com/news/articles/2018-01-08/seagate-western-union-shares-rise-on-speculation-of-ripple-ties