Iqstel Inc (NASDAQ:IQST) was under pressure on Tuesday after the news. The stock has witnessed a solid momentum over the past few months with stock soaring 665% in 6-month.
Market Reaction
In yesterday’s trading session, IQST stock ended lower by 9.15% at $0.5630. Volume was hefty with more than 1.76 million shares traded hands, compared to its average volume of 1.62 million shares. The stock opened at $0.061 and moved with in a range of $0.5000 – 0.6200.
Major Trigger:
IQST – iQSTEL Targets $530 Million Mobile Number Portability Market With Launch Of New Blockchain Application (Video)
Key Highlights:
- announced the launch of its Mobile Number Portability Application (MNPA) Blockchain Platform. The MNPA allows a Mobile End User to easily and quickly change form one Mobile Network Carrier to another in just 3 clicks. No days long dealing with a service provider anymore.
- iQSTEL’s MNPA is anticipated to be an industry gamechanger as it allows Mobile Users to seamlessly change from one Mobile Network Carrier to another.
- The initial estimation of the MNPA Platform as a Service (PaaS) market size is approximately $530 million annually. iQSTEL’s ItsBchain subsidiary is targeting a 5% MNPA market capture within the next three years.
- The Company’s long-term goal is to implement the MNPA PaaS, or as we like to say, Blockchain as a Service (BaaS), with over one billion end users.
- Our MNPA BaaS will include smart contract functionality and as part of the Blockchain platform, our MNPA will also include a high degree of protection for end user information.
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