Yesterday’s closing price for Appliqate Inc. (OTC: APQT) was $0.3200, up 156.00% from that of the previous day. In contrast to the average Weekly Volume of 204.09K for APQT stock, the trading volume for the last session was 1.27 million shares. Appliqate stock rose not because of any current news, but on the back of developments, Appliqate made this week.
What was the development?
Appliqate is a publicly-traded technology firm that uses platforms and business models to disrupt industry sectors by providing businesses, executives, and investors with capital and innovative solutions. The APQT accelerated the growth of tech solutions for live entertainment, media, intellectual property, and blockchain by placing an emphasis on these markets. A unique combination of expertise is reflected in the management team at Appliqate, where some of the founders have sound experience in technology, operating, investing, financial, and transactional areas.
Appliqate this week announced the acquisition of ELEV8, a hybrid event platform for connecting corporate and enterprise thought leaders, executives, and investors of blockchain, distributed ledger technologies, and digital assets.
A lineup of in-person, hybrid and virtually based events is being produced by the APQT, gathering the best and the brightest at the forefront of digital asset transformation. Among the participating institutions are State Street, JP Morgan, Celsius Network, Galaxy Digital, Bumble Bee Foods, Gemini, TDAmeritrade, IBM, BlockFi, NASDAQ, Ticketmaster, FedEx, Wisdom Tree, Chainalysis, and many others.
Applique explained the move this way:
- The definition of digital assets and blockchain technology has evolved beyond pilot projects and proofs of concept.
- In recent months, the number of non-fungible tokens has grown exponentially.
- With its Top Shot initiative, the NBA has sold over $200M and the artist Beeple has sold one of the highest-priced NFTs ever at $69.3M.
- Additionally, companies such as Tesla, which purchased bitcoins for more than $1.5 billion, were committing to digital assets and plan to accept the currency as payment.
Institutional investors are now pouring billions of dollars into bitcoin and other digital assets, and companies are utilizing the technology in many new ways. A combination of the greater market potential and future economic growth allows Appliqate (APQT) to invest in segments that would pay off well and allow it to grow further.