Cuentas Inc (NASDAQ:CUEN) stock is the biggest gainer on Wednesday after the news.
Major Trigger:
WaveMax to Implement the World’s First Shared WiFi6 Network
Key Highlights:
- WaveMax Corporation®, the pioneer of the world’s first shared WiFi network, was selected by TelcoDR as part of their most innovative mobile technologies showcase during Mobile World Congress in Barcelona (Booth #1242 West). WaveMAX will offer a preview of the world’s first WiFi6-5G shared network launching soon in New York.
- WaveMax’s SharedFi patented technology allows for a shared network of WiFi access points and small cells. The user has access to this shared network and, if he has opted in, be impacted with location-based advertising. These ads are configured by advertisers using WaveMAX’s dashboards targeting, manually or programmatically, the right audience, at the right time, and the right place.
- Advertisers may transparently optimize their advertising investment with zero fraud and no user privacy invasion, and analyze aggregated data and results. The user may also pay an ad-free subscription service, or have the service be included as part of their data plan with roaming agreements. Access points and small cell owners receive a share of the ad, subscription or roaming revenue.
- Cuentas, a FinTech company targeting the underbanked, signed a contract to rollout SharedFi in 170 test locations in the New York City-Tristate area. If the 6 month test is successful, the parties will plan to install1,000 additional “Bodega Stores” in a 50/50 joint venture. The service will enhance the customer experience while in the Bodega store, by automatically connecting them to WiFi6 high speed internet and receive special in-store offers. Users will also receive promotions for the Cuentas GPR card and discounted products sold through the Cuentas Mobile App.
Market Reactions
As of 12:07, CUEN stock soared 185% at $7.92. Total volume so far stood at 130 million shares, compared to its average volume of 167k shares. The stock moved within a range of $6.78 – 9.25 after opening at $8.21.
 Stock Make a Massive Move: Will it Hit $10 This Week?){kind=link}