STOCKS TELEGRAPH

Tag: NASD:CUEN

  • Cuentas (CUEN) Stock Spiked 9% After-Hours

    Cuentas (CUEN) Stock Spiked 9% After-Hours

    Cuentas Inc. (NASDAQ: CUEN) witnessed a notable upswing of 9.40% during after-hours trading on Thursday, reaching a value of $1.28. The preceding regular trading session saw Cuentas (CUEN) stock price experience a decline of 5.65%, settling at $1.17. The resurgence in the stock’s performance during the extended trading period was prompted by a strategic equity initiative undertaken by CUEN.

    World Health Energy Holdings, Inc. (WHEN), an OTC Pink-listed company specializing in telecommunications and cybersecurity, has made a significant announcement regarding a binding letter of intent. The majority shareholder of WHEN Group has initiated discussions with Cuentas, a key move that could reshape the landscape of both companies.

    This groundbreaking development centers around a proposed share exchange transaction. However, its execution is contingent upon several key factors: Nasdaq approval, consent from shareholders, and the fulfillment of specific conditions. Once finalized, this transaction will result in WHEN Group transforming into a majority-owned subsidiary under Cuentas’ umbrella.

    The transition holds great promise, particularly in the realm of cybersecurity. Cuentas intends to seamlessly integrate WHEN Group’s state-of-the-art cybersecurity solutions into the Cuentas Mobile Platform. Furthermore, WHEN Group’s advanced solutions are set to become available to Cuentas’ partners in the FinTech sector, a move that could potentially redefine industry standards.

    WHEN Group’s recent acquisition of CrossMobile, a licensed telecom operator in Poland, marks a strategic pivot towards telecommunications. This move places WHEN Group among the select few licensed telecom operators within the European Union. The synergy between WHEN Group’s expanding telecommunications ventures and Cuentas’ mobile financial services sector is evident, offering a tantalizing prospect of mutually beneficial collaboration.

    As part of this exchange, the principal shareholder of WHEN Group, UCG, Inc., will trade its 75% stake for common shares of CUEN, equivalent to 50% of Cuentas’ total issued and outstanding capital, under a fully diluted basis at the time of issuance. Following the transaction’s completion, WHEN Group will emerge as a majority-owned subsidiary of Cuentas, indirectly held through UCG’s holdings.

    In anticipation of this change, the leadership of WHEN Group is committed to devising a comprehensive business plan, delineating financial sources and utilization, and nurturing the growth of WHEN Group’s operations, including the seamless integration of WHEN Group and Cuentas’ product offerings.

  • Why Did Cuentas (CUEN) Stock Surge In Premarket Session?

    Cuentas Inc. (CUEN) has rose 4.34% at $6.49 in the premarket session on the last check today. CUEN stock gained 123.74% to reach $ 6.22 in the last trading session. CUEN stock ranged between $ 5.80 and $ 9.25 in the last trading session.

    A total of 208.96 million shares of CUEN stock changed hands, compared to its daily average of 0.17M shares over 100 trading days. Within the last five days, shares of CUEN have risen 184.02%, while in the last month they have risen 174.01%.  CUEN stock has been on the rise after doubling its value in previous sessions.

    How did CUEN more than double its value?

    A FinTech service provider with a mission to provide solutions to the unbanked and underbanked Hispanic and Latino community, Ceuntas provides e-banking solutions and e-commerce services. CUEN offers a variety of services, including mobile banking, online banking, mobile deposits, prepaid debit, ACH, and a cash remittance program. It also provides peer to peer money transfers and bank accounts to clients who were unable to acquire bank accounts previously.

    The world’s first shared WiFi network, WaveMax Corporation, was selected by TelcoDR as part of their showcase of the most innovative mobile technology during Mobile World Congress in Barcelona.

    • As part of its collaboration with Cuentas (CUEN), WaveMAX will show off the world’s first WiFi6-5G shared network coming soon to New York.
    • Using WaveMax’s SharedFi technology, small cells and WiFi access points can be shared.
    • If the user opts in to be impacted by location-based advertising, he/she gains access to this shared network.
    • WaveMAX advertiser dashboards are used to customize ads so that they are targeted to the right audience, at the right time, and in the right place.
    • CUEN has signed a contract to roll out SharedFi at 170 test sites in the New York City-Tristate area.
    • CUEN plans to install 1,000 new “Bodega Stores” in a 50/50 joint venture with WaveMAX if the 6 month test is successful.
    • In addition to the automatic connection to WiFi6, customers will receive special offers inside the Bodega store to enhance their shopping experience.
    • Customers will also receive product discounts via the Cuentas Mobile App and promotional offers for the Cuentas GPR card.

    CUEN’s other agreements:

    Cuentas (CUEN) recently signed a Marketing Agreement with SDI Black 011 (SDI), one of the larger prepaid telecommunications companies, to incorporate multiple products for sale. CUEN will integrate Cuentas Prepaid Mastercard, Cuentas Mobile App and digital wallet into its electronic portal, while SDI will be able to expand the SDI distribution network through CUEN. CUEN will deposit $200,000 in escrow to jump start the SDI network expansion, initially in New York, New Jersey, Connecticut tri-state area to sign up 1,000 new targeted prime locations in the United States.