Getting internet access to as many people as possible is still something that can be a highly lucrative venture for companies and hence, it is no surprise that the Cuentas Inc (NASDAQ:CUEN) stock has been soaring recently. The company is involved in the technology and finance sectors and is currently involved in doing just that.
On Thursday, the Cuentas stock went up by 7% and that took its gains for this week to as much as 185%. The company is working on helping the company WaveMax with the rollout of its product its new network WiFI6-5G network in New York City.
WaveMax is involved in the creation of an internet ecosystem in which people can be easily connected to retailers, mobile applications and other related things.
As per a press release from WaveMax, Cuentas will help it when it comes to implementing its products in as many as 170 stations all across New York City and the tri-state area. By way of this collaboration, users are also going to be subject to targeted advertising and other forms of promotional content. The whole thing is going to take place over a period of six months and it seems to have come as a source of excitement to investors.
Market Reaction:
On Thursday, CUEN stock jumped 7% to $6.66 with more than 26.03 million shares, compared to its average volume of 3.57 million shares. The stock has moved within a range of $5.90 – 7.49 after opening the trade at $7. Over the past 52-week, the stock has been trading within a range of $2.04 – 10.44.
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