STOCKS TELEGRAPH

Tag: Blockchain

  • Powerbridge Technologies Co., Ltd. (PBTS) Stock on the Rise Following Announcement of SCM SaaS Platform

    Powerbridge Technologies Co., Ltd. (PBTS) stock prices were up 7.94% as of the market close on July 26th, 2021, bringing the price per share up to USD$1.36 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by 11.03%, bringing it up to USD$1.51.

    PBTS Stock’s Foray into Blockchain

    July 27th, 2021 saw the company reveal that it was in the process of building a Supply Chain Management SaaS platform that will be enabled by Blockchain technology. The company is keen to spearhead its foray into Blockchain technology in an effort to optimize and integrate traditional supply chain systems. PBTS stock is a cutting-edge tech company that focuses on providing artificial intelligence, the Internet of Things, Blockchain, and financial technologies.

    About the SaaS Platform

    The company also offers SaaS solutions and operational services in various fields such as cross-border trade, smart cities, and government services. PBTS stock’s Blockchain-enabled Supply Chain Management SaaS Platform is being designed to connect suppliers, logistics service providers, distributors, retailers, and end-users. It will do so with an integrative feature network, facilitating real-time information sharing for all participants. In doing so, the company ensures the credibility of the information and facilitates the efficiency of information transmission.

    Scope of Blockchain Technology

    PBTS stock hopes for its Blockchain management platform to prove to be applicable to more practical contexts, with a deep-rooted integration with businesses. The company intends to continue developing Blockchain applications and SaaS with more trials and innovations. The application of Blockchain technology is expected to generate sustained growth of PBTS’ revenue. PBTS will also expand its application to other fields, such as supply chain finance technology.

    About PBTS Stock

    With nearly 25 years of history behind it, PBTS stock aims to provide a myriad of smart-technology-based products and solutions. These offerings include global trade-related ports and customs management platforms, cross-border and global trade solutions, smart city tech products and solutions. The company also utilizes innovative technology such as Big Data, artificial intelligence, Blockchain, and the Internet of Things.

    Future Outlook for PBTS Stock

    Armed with its foray into the burgeoning blockchain market space, PBTS is poised to capitalize on its entry into a marketspace rife with opportunities. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.

  • Lion Group Holding Ltd. (LGHL) Stock on the Rise Following Launch of Meta World NFT Online Marketplace

    Lion Group Holding Ltd. (LGHL) stock prices were up 2.48% shortly after market trading commenced on July 26th, 2021, bringing the price per share up USD$2.11 early on in the trading day.

    Launch of Meta World

    July 23rd, 2021 saw LGHL announce the launch of its subsidiary, Lion NFT Ltd.’s, non-fungible token market platform, known as Meta World. The NFT market platform will be available online before the end of July 2021. LGHL stock’s subsidiary is registered in the British Virgin Islands and conducts the bulk of its business via investments and innovations in digital assets. The parent company holds an MSB license through the U.S Treasury Department’s FinCEN., as well as an encrypted commodity operating license through the DMCC.

    LGHL Stock’s Foray into NFTs

    Leveraging these resources, Lion Group Holding Ltd. (LGHL) is poised to facilitate the provision of services such as digital asset exchange, NFT innovation, issuance, and trading on a global scale. LGHL stock’s platform is being designed to become the world’s top one-stop, cross-chain, high-expansion NFT marketplace. It will allow users to connect and trade with digital currency, as well as a digital wallet that will be linked the platform and will be accessible upon login.

    Comprehensive NFT Solution

    The new platform establishes a complete industry chain ranging from exploration and creation to pricing, buying, and selling. The platform will make use of blockchain technology to encrypt artwork such as photographs, videos, audios, and 3D pieces, while also generating relevant information that will facilitate the production of NFTs. Meta World will serve to create a foundation for an efficient digital world with the promotion of the value circulation of global resources.

    Set to Revolutionize Markets

    NFTs see illiquid digital works of art being made available to the public as valuable and investable digital collections. With the proliferation of additional NFT applications, LGHL stock’s platform will become a critical part of the digital transformation of various industries. With the global encryption economy developing rapidly, Lion Group Holding Ltd. (LGHL) is poised to capitalize on the burgeoning market with its NFT platform.

    Future Outlook for LGHL Stock

    Armed with its exciting foray into the massively expanding NFT market, LGHL stock is poised to capitalize on the added opportunities ahead of it. The company is striving to continue its trajectory of success with the efficient allocation of its resources, which investors hope will result in long-term increases in shareholder value.

  • Bit Brother Ltd. (BTB) Stock Plummets Following Pricing of Registered Direct Offering

    Bit Brother Ltd. (BTB) Stock Plummets Following Pricing of Registered Direct Offering

    Bit Brother Ltd. (BTB) stock prices plummeted by 47% shortly after market trading commenced on July 16th, 2021, bringing the price per share down to USD$1.06 early on in the trading day.

    Registered Direct Offering

    July 16th, 2021 saw the company announce having entered into a securities purchase agreement with various accredited investors. The agreement will see the company sell USD$22.5 million in ordinary shares and warrants in a registered direct offering. The offering will consist of the sale of 15 million ordinary shares and warrants that will facilitate the purchase of an additional 15 million shares.

    Offered Warrants

    The warrants will be exercisable immediately, with an expire date of five years from the date of issuance. A single unit consisting of one ordinary share and one corresponding warrant has been priced at USD$1.50, with the offering expected to generate USD$22.5 million before the deduction of expenses related to the offering.

    Acquiring Angelo’s Pizza

    July 13th, 2021 saw the company announce having entered into a non-binding letter of intent which will see it acquire a majority 51% stake in Angelo’s Pizza. The family-style boutique restaurant has been in business for 30 years, with a combined history of 120 years as it pivoted to a chain restaurant. Over this time, the company has garnered a strong brand name for itself, consolidated by excellent customer reviews. Following the completion of the acquisition, the chain restaurants will begin accepting cryptocurrency as a form of payment.

    Global Expansion

    Angelo’s Pizza intends to expand its market footprint across burgeoning international markets, such as Canada, Japan, South Korea, China, Singapore, Australia, and New Zealand. The overseas branches will allocate resources towards the provision of takeout and delivery services, given the limited dine-in capacity driven by the ongoing global coronavirus pandemic. The company expects to open up to 1000 branches around the world over the next five years. All of the branches, barring those in China, will be accepting Bitcoin in a big to tie its wagon to the cryptocurrency horse that is steadily increasing in momentum.

    Future Outlook for BTB

    Armed with the influx of capital from its registered direct offering and the acquisition of such an established restaurant chain, BTB is poised to capitalize on the opportunities afforded to it. The company is keen to push for the continued market proliferation of its chains, while investors are hopeful for significant and sustained increases in shareholder value over the long term.

  • ZW Data Action Technologies, Inc. (CNET) Stock Exhibits Volatility After Having Been Selected as Latest Meme Stock

    ZW Data Action Technologies, Inc. (CNET) stock prices were up by 6.50% as of the market closing on July 1st, 2021, bringing the price per share up to USD$2.13 at the end of the trading day. After-hours trading saw the stock plummet by 7.04%, bringing it down to USD$1.98.

    Revenue Reports

    Revenues for the quarter ended March 31st, 2021 were reported at USD$8.40 million, a 91.5% increase from the USD$4.38 reported in the same quarter of the prior year. The year-over-year difference is largely attributable to increases in revenue from the company’s internet advertising and related service business segment. This, in turn, has benefitted from the economic recovery since the Covid-19 outbreak in the second half of the prior year.

    Costs of Revenues

    Q1 2021 total cost of revenues came out to USD$9.11 million for the quarter ended March 31st, 2021, up a massive 161.5% from the USD$3.49 million reported for Q1 2020. The year-over-year difference was largely driven by increases in cost derived from the distribution of the right to use search engine marketing services that CNET had previously purchased from key search engines. Further contributing to the yearly difference were costs related to the provision of Internet advertising services with various ad portals.

    Gross Loss and Margins

    Gross loss for the quarter ended March 31st, 2021 was reported at USD$0.72 million down from the gross profit of USD$0.90 reported in the same period of the prior year. This difference over the year is primarily attributable to the negative gross margin rate resulting from the main stream of service revenues. Accordingly, the gross loss margin was 8.5% for the quarter, while the prior-year quarter reported a gross profit margin of 20.5%.

    Meme Stock Phenomenon

    With no recent news coverage since the end of May 2021 and no significant changes in fundamentals, CNET seems to have found itself to be the target of the meme stock phenomenon that has resurged through the markets lately. After the massive volatility around the end of June 29th, 2021, CNET stock continues to dip and rally in significant swings. Driven by retail investors who coordinate on the social media platform Reddit to execute a collaborative short squeeze of underperforming companies with little to no sound bases for being invested in, meme stocks have been all the rage lately.

    Future Outlook for CNET

    Armed with the fortuitous strengthening of the position of its equity value, CNET is poised to capitalize on the opportunities presented to it in a bid to usher in more organic growth. Investors are hopeful that management will be able to keep the snowball going rather than a massive downward correction, as is seen very often with meme stocks.

  • Phunware, Inc. (PHUN) Stock on the Rise Following Ten Million PhunToken Sweepstakes Announcement

    Phunware, Inc. (PHUN) Stock on the Rise Following Ten Million PhunToken Sweepstakes Announcement

    Phunware, Inc. (PHUN) stock prices were up by a significant 7.1428% shortly after market trading commenced on June 29th 2021, bringing the price up to USD$1.425 early on in the trading day.

    Ten Million PhunToken Sweepstakes

    June 28th, 2021 saw PHUN announce its Ten Million PhunToken Sweepstakes, which will coincide with the release of PhunWallet on the Apple app store. The release will see PhunWallet penetrate both the Apple and Android markets, having already been launched on Google Play. The Sweepstakes will commence at the end of July and will provide participants with the opportunity to early daily entries by engaging with content inside of the PhunWallet app. As per the initiative, 10 winners will be selected to receive one million PhunTokens each.

    PhunWallet

    The company hopes to combine its PhunWallet and its dual token economy to provide an innovative new platform to brands and consumers. The platform will serve to give stakeholders more control over their data and compensates consumers fairly for their participation. PhunWallet is a cryptocurrency wallet and mobile application that works in conjunction with the company’s proprietary blockchain-enabled data exchange and mobile loyalty ecosystem. The data exchange and ecosystem are respectively powered by PhunCoin and PhunToken.

    PHUN Cryptocurrency

    Being a regulated store of value, PhunCoin serves to compensate users for their data, while PhunToken is designed to be a medium of exchange that encourages profitable behaviour by unlocking key features of the company’s MaaS platform that reward and measure engagement.PhunCoin issuances identified by the SDK for Apple and Android can be manage by PhunWallet, facilitating the rewarding of consumers for their data with PhunCoin by third-party mobile applications.

    PhunWallet Services

    Besides managing PhunToken purchases, PhunWallet allows user to manage PhunCoin purchases made in accordance with approved exemptions. PhunTokens can be earned by participating in activities that foster profitable behaviour, such as watching branded videos, completing surveys and visiting points of interest. The platform also facilitates the discovery of brands, deals, and opportunities that are tailored to users. Through PhunWallet, users can opt in or out of specific audience segments that are used by brands to personalize data-enriched media without compromising their PII.

    Future Outlook for PHUN

    With the company set to be acquired, PHUN is poised for the expanded facilities that will be made available to it to drive further growth. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • The OLB Group, Inc (OLB) Stock Surges Ahead of Announcement that SecurePay Will Support NFTs

    The OLB Group, Inc (OLB) stock prices were up by an impressive 7.27% shortly after market trading commenced on June 23rd, 2021, bringing the price per share up to USD$5.31 early on in the trading day.

    SecurePay Supports NFTs

    June 23rd, 2021 saw the company announce that its SecurePay payment gateway would facilitate the transfer or sale of digits assets using non-fungible token (NFT) technology. The NFT technology is founded on the Ethereum platform, which is responsible for token generation and redemption, transfer of registered ownership, and associations with assets.

    Fraud Prevention

    The explosive proliferation of digital ticketing over the past year has emphasized the need to address secure ways to buy and sell these digital properties. Of crucial importance is that this be done without the risk of fraud that is associated with the replication of QR codes or barcodes, particularly on the sale of Peer-to-Peer transaction. The transfer of ownership when an NFT is associated with a digital ticket or asset is assured through a blockchain ledger. This prevents the same ticket from being sold multiple times, which, unfortunately, happens quite often.

    Scope of SecurePay

    The secure NFT process that has been put in place by OLB is designed to work seamlessly with a myriad of payment processing options of SecurePay. This gives both buyers and sellers unmatched flexibility in funding sources. SecurePay works with several major digital wallets including Apple Pay, Google Pay, crypto wallets, PayPal, and traditional credit cards. Smart contracts are used by NFT functions to facilitate the easy exchange of funds and appropriate management of terms and conditions of sale.

    Utility of NFTs

    While NFTs are most often associated with art and transactions of collectibles, the way they work is ideal for the sale or transfer of any digital asset, regardless of the dollar value. The company is dedicated to providing solutions that benefit all the parties involved in flexible and secure buying and selling. NFTs are the latest addition to the portfolio of service that the company believes will be effective in the fight against digital asset fraud.

    Future Outlook for OLB

    Armed with its foray into the burgeoning NFT market space, OLB is poised to continue its trajectory of success. The company is keen to expand its market footprint in the blockchain space, thereby ushering in unprecedented growth. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • SOS Stock Dips Following Announcement of Joint Venture with Niagara Development

    SOS Stock Dips Following Announcement of Joint Venture with Niagara Development

    SOS Limited (SOS) stock prices were down by 7.30% shortly after market trading commenced on June 21st, 2021, bringing the price per share up to USD$3.36 early on in the trading day.

    Joint Venture with Niagara Development

    June 21st, 2021 saw the company announce that it had entered into a joint venture agreement with Niagara Development LLC that will be based in Niagara, Wisconsin. The joint venture FD LLC is expected to conduct crypto-currency mining operations and facilitate the construction of an international standardized Digital Super Computing Custody Operation Center.

    Specifics of the Agreement

    As per the agreement, Niagara Development will be tasked with the responsibility for the provision of 150MW of electricity and the construction of the Operation Center. The electricity to be generated will include energy generated from renewable sources. Management, operation, and financing of the joint venture is to be carried out by SOS, which is committed to its block-chain strategy and strives to become a leader of sustainability.

    Entry into American Market

    In light of the increasingly pessimistic outlook of the laws and regulations pertaining to blockchain operations in China, the company has initiated a transition of its bitcoin mining operation to the US. Most of the company’s Chinese operations are fully operational and remain unaffected as of yet. This primarily includes SOS’s insurance business, call centers, and Ethereum mining business. As the company continues to increase its development of blockchain solutions for a myriad of industries, SOS made the decision to acquire a sustainable power supply. This move comes in preparation for the expansion of the company’s blockchain operations into North America, which it has high hopes for in light of the joint venture.

    Prolific Track Record

    To date, SOS has registered a total of almost 100 software copyrights, as well as 3 patents. The company has been granted a national high-tech enterprise certification as recognition of its caliber. SOS has also been awarded the title of Big Data Star Enterprise by the Gui’an New District Government, a further indication of the company’s ability to stay at the forefront of digital technology innovation.

    Future Outlook for SOS

    Armed with its recent expansive acquisition and a bright outlook for its transition into the North American market, SOS is poised to capitalize on upcoming opportunities afforded to it. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Bit Digital, Inc. (BTBT) Stock Prices Surge Following Announcement of Strategic Partnership with Digihost Amid Meme Stock Craze

    Bit Digital, Inc. (BTBT) stock prices skyrocketed by a massive 26.16% shortly after market trading commenced on June 14th 2021, bringing the price up to USD$9.77 early on in the trading day.

    Meme Stock Phenomenon

    With the recent proliferation of the meme stock craze taking over stock markets, akin to the GME and AMC episodes from earlier in the year, BTBT seems to be the latest target of the meme stock phenomenon. In the absence of any significant news or developments, the recent surge in PROG stock prices is likely to be attributable to the coordinated pump by investors who are users of the popular social media platform, Reddit.

    Agreement with Digihost

    The company recently announced entering into a strategic co-mining agreement with Digihost Technology Inc (DGHI). As per the agreement, DGHI will provide certain premises to BTBT to facilitate the operation and storage of a 20 MW Bitcoin mining system that will be delivered by BTBT. DGHI will also facilitate the provision of services to maintain the premises for a term of two years. The collaborative efforts of both companies are forecasted to result in an increased generation of hashrate in the amount of almost 400 PH between the two.

    Terms of Agreement

    As per the agreement, DGHI will be responsible or the provision of power for the operation of the Miners, as well as for management services that will be essential in maintaining the planned 95% uptime on the Miners. In return, DGHI will be paid a very competitive rate for power. The two companies will also participate in a profit sharing arrangement based on a fixed distribution formula. The delivery and installation of the Miners is expected for the fourth quarter of the fiscal year 2021.

    Scope of Agreement

    The company expects an increase in hashrate of 400 PH between them, based on current Bitcoin metrics, which will signal a massive collaborative success on the part of the joint venture. BTBT continues to expand its business strategy through the expansion of the company’s mining infrastructure, vertical integration of low-cost and green sources of energy, strategic partnerships within the blockchain sector, and geographic diversification across North America. These steps serve to strategically operating the business in regions where the carbon footprint being generated is minimal or non-existent.

    Future Outlook for BTBT

    Armed with a potentially lucrative strategic partnership, as well as the fortuitous surge in the value of their equity, BTBT is poised to capitalize on the opportunities presented to it. The company is keen to continue its trajectory of success and usher in more organic growth over the long-term. Current and potential investors are hopeful that the management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Riot Blockchain, Inc. (RIOT) Stock Undergoes Minor Volatility Following May 2021 Production and Operations Updates

    Riot Blockchain, Inc. (RIOT) Stock Undergoes Minor Volatility Following May 2021 Production and Operations Updates

    Riot Blockchain, Inc. (RIOT) stock prices were down by a marginal 1.93% as of the market closing on June 11th, 2021, bringing the price per share down to USD$31.03. Subsequent pre-market fluctuations have seen the stock rise by 6.99%, bringing it up to USD$33.20.

    May 2021 BTC Production Report

    RIOT reported having produced a total of 227 BTC in May 2021, representing a 220% increase over the 71 BTC reported having been produced in May of the prior fiscal year. Year-to-date production numbers through to May of 2021 were reported at 924 BTC, up almost 101% over the company’s pre-halving BTC production during the same period over the course of fiscal 2020, which reported 460 BTC being produced. As of May 31st, 2021, the company reported having a total of almost 2,000 BTC, the entirety of which was produced by the company’s own mining operations.

    Acquisition of Whinstone

    May 26th, 2021 saw the company announce the completion of its acquisition of Whinstone U.S., including their Rockdale facility, which is the largest Bitcoin mining facility in North America. The facility comes in at 300 MW in developed capacity. RIOT announced its intent to facilitate the immediate development of additional capacity at the Whinstone facility, in order to raise the cap to 750 MW. An industry-leading development team of more than 10 employees will spearhead the expansion.

    Bitmain Purchase Order

    May 2021 saw the shipment of 1000 S19 Pro Antminers (110 TH) as part of a purchase order with Bitmain in December 2020. The installation of the miners is expected to be completed in Q2 2021, with RIOT reporting a total of 23,946 Antminer’s in operation. This array of miners uses roughly 76 megawatts of energy, with an estimated hash rate capacity of 2.4 exahash per second.

    Agreement with Mogo Inc

    The company recently announced the completion of purchase transactions with Mogo Inc, which saw Mogo acquire a cumulative entirety of the 3.4 million common shares of CoinSquare Ltd stock held by RIOT. In return, RIOT was granted a total consideration of 3.2 million shares of Mogo’s common stock, in addition to roughly USD$1.8 million in cash. As of this agreement, RIOT no longer owns any equity investment in Coinsquare.

    Future Outlook for RIOT

    Armed with the stellar reports and developments over the month of May 2021, RIOT is poised to continue its trajectory of success over the upcoming few months. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • MoneyGram’s pioneering step towards cryptocurrency adoption

    2021 may be remembered as the year of cryptocurrencies. The bull run of 2021 resulted in a cryptocurrency adoption at a phenomenal scale. Corporate giants that were otherwise skeptical of cryptocurrencies have incorporated cryptocurrencies in some shape or form. The potential of blockchain technology has been realized by the masses with innovations presenting the real-world use cases of the technology and cryptocurrencies.

    MoneyGram is taking the next step towards fueling the adoption of cryptocurrencies. The global payment service has announced a strategic partnership with Coinme Inc. – a cryptocurrency exchange and a Bitcoin ATM operator. The partnership will now allow the customers of MoneyGram in the United States to use the retail outlets of MoneyGram for withdrawing their cryptocurrency holdings for cash.

    MoneyGram users will also be now able to buy Bitcoin and other cryptocurrencies through its point of sakes at its retail outlets. MoneyGram CEO has regarded the step as a pioneering movement to bridge the gap between cryptocurrencies and fiat currency.

    Now with users being able to buy cryptocurrencies from a physical outlet, adoption may be expected to increase. As we are still in phase of shifting towards digitization, people who are wary of the online exchange will now have a way to incorporate cryptocurrency holdings by visiting a physical outlet.

    The step also marks another huge development for the cryptocurrency sphere from an institutional viewpoint. Institutional giants have also been widely accepting cryptocurrencies. Payment service behemoths like PayPal, Visa, and Mastercard all have been slowly but gradually becoming more accepting of cryptocurrencies and blockchain technology.