Fintech companies have become an important point of focus among investors and many of them are increasingly looking for stocks in that sector. One of the fintech stocks that could be tracked by investors at this point in time is that of Peak Fintech Group Inc (OTCMKTS:PKKFF).
On Wednesday, the stock was in considerable action and ended the day with gains of 7%. More importantly, the gains made by the stock yesterday took its gains for the past month to as much as 115%. The company is involved in providing fintech services to the commercial lending sector in China.
Earlier on in the week the company announced that it took a major step towards the eventually acquisition of Zhongke Software Intelligence Ltd, a company that provides artificial intelligence software to the banking sector.
The company announced that it transferred that intellectual property belonging to Zhongke to a subsidiary that it controls. It should be noted that the announcement with regards to the potential acquisition of Zhongke had been made by Peak Fintech Group back in December last year. At the time, the company had signed a memorandum of understanding with regards to the acquisition. Investors could consider keeping an eye on the latest news with regards to this acquisition being made by Peak Fintech.
Market Reaction:
On Wednesday, PKKFF stock jumped 8.75% at $4.25 with more than 582K shares, compared to its average volume of 275K shares. The stock has moved within a range of $2.7500 – 4.2550 after opening the trade at $3.97. Over the past 52-week, the stock has been trading within a range of $0.1250 – 4.2550.
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