Gen Z-focused Asian food maker DDC makes new bitcoin treasury strategy move

Quotes for DayDayCook (DDC), which manufactures ready-to-heat, ready-to-cook, and ready-to-eat Asian food, soared more than 53% yesterday, July 14, to a year-to-date high. The company announced the launch of the "DDC Bitcoin Influence Collective" to bring together "top-tier thought leaders." Recently, DDC launched an "aggressive [bitcoin] accumulation strategy." 

DDC rose more than 53% yesterday on the New York Stock Exchange to $19.92 per share. This is the highest close since June 26, 2024. In premarket trading this morning, the stock is up another 2.7% as of this writing.

Yesterday, the company announced the launch of the DDC Bitcoin Influence Collective, which is supposed to unite industry thought leaders on behalf of DDC. 

"This initiative will not only accelerate DDC’s trajectory in the rapidly evolving digital asset space but also solidify our leadership," founder and CEO Norma Chu was quoted as saying the press release. In particular, the collective will "cultivate a robust, engaged network of advocates and stakeholders, both online and offline," and promote the company's bitcoin treasury strategy.

DDC has enlisted investor Adrian Morris, investor and blogger Lemar Ashhar, bitcoin consultant Magdalena Gronowska, and Bitcoin Treasuries Podcast podcast and Digital Conference platform creator Tim Kotzman to participate in the collective. 

The launch of the collective is a continuation of DDC's foray into digital assets. In May, the company announced a strategic bitcoin reserve, followed a week later by the announcement of the purchase of 21 bitcoins. In total, DDC expects to buy 500 bitcoins within six months and 5,000 within three years. "The financial system is more fragile than most businesses are willing to acknowledge. Currency risk. Inflation. Asset bubbles. In this environment, holding only fiat isn’t just conservative – it’s potentially detrimental," said Chu in a letter published May 27, which she called the "DDC Bitcoin Manifesto." 

The decision to accumulate bitcoin triggered a spike in the stock. It added almost 379% the day of the announcement.

Founded in 2012 in Hong Kong, DDC offers ready-to-eat and easy-to-prepare Asian cuisine, targeting Gen Z consumers through social media and e-commerce platforms.

The company went public on the NYSE in November 2023, but the IPO generated limited investor interest. Shares were priced at $8.50 apiece, 10% below the lower end of the indicated range.

Challenges mounted in 2024, when the NYSE flagged three compliance violations: Insufficient shareholder equity, a delayed filing of the 2023 annual report, and failure to meet the minimum share price requirement of $1 per share. By January, DDC had resolved two of the issues.

Another setback followed in April. On April 4, DDC plunged more than 40% in a single day, falling below $0.10 per share, after Trump rolled out his tariff agenda and triggered a broad market selloff. The NYSE suspended trading in DDC stock, prompting the company to convene an emergency board meeting. The board approved a 1-for-25 reverse stock split, and trading resumed on April 21. Since then, the share price has surged more than tenfold.

The AI translation of this story was reviewed by a human editor.