It was a difficult day in the markets for Tenet Fintech Group Inc. (CSE: PKK) (OTC: PKKFF) shareholders as the stock suffered from a strong selloff and ended the day with a decline of 13%. This morning investors would possibly track the stock for any signs of a quick bounce back.
New Appointment
On October 25, the company hit the news cycle after it announced that it had appointed a new head of the global development of its Cubeler Business Hub in the form of Liang Qiu. The company is noted for owning and operating the business hub. However, the news was not welcomed with great enthusiasm by the markets.
Key Details
In the news release, Tenet Fintech Group announced that it had introduced the beta versions of the networking and advertising modules of Business Hub in Canada. Thanks to the release, the company was engaged in collective feedback with the view of improving some of the functionalities offered by the modules.
Wider deployment of the modules in Canada had been planned for launch in November this year. The launch of the networking module was particularly important since it would allow members of the Business Hub to communicate with each other and post messages as well. In the new role, Qiu would be responsible for merging the two modules and launching a solitary global business development network aimed at medium- and small-sized businesses.
CEO Quote
“I couldn’t be more excited for this new role,” commented Mr. Qiu. “When we first launched the Business Hub in China several years ago, the vision was always to have it eventually operate as a global hub that would connect entrepreneurs from different parts of the world. Now that we’re about to bring the networking functionality to the platform to allow that to happen, the vision is now coming into focus. I think we will soon start to get a true sense of the potential impact of the Business Hub on small and medium sized businesses first in China and Canada and eventually around the globe.”
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