Home Financial Markets Penny Stocks What Caused The WOWI Stock To Skyrocket 1200% On Tuesday?

What Caused The WOWI Stock To Skyrocket 1200% On Tuesday?

At the last close, Metro One Telecommunications Inc (OTC: WOWI) closed at $0.1170, after an impressive gain of 1200.00% that increased the company’s market capitalization to $0.73M. Recent trading of 1.18M shares in Metro One stock exceeded the average daily trading volume of 49.64K shares.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

With a total of 6.23M shares outstanding, the WOWI stock has traded between $0.0170 and $0.1900. WOWI stock surged following a winning bid by one of its subsidiaries to acquire assets in an insolvency proceeding.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Read More

The bid was for what?

Metro One is a major call center and data management services, provider. WOWI provides contact center services, data analytics, and related services, including inbound and outbound contact centers. WOWI was founded in 1989 with its headquarters in Beaverton, Oregon. Throughout the years, WOWI has provided both live operators and electronic means for information services and Enhanced Directory Assistance.

Stratford Ltd., the wholly-owned Israeli subsidiary of Metro One, received formal notification from the Lod District Court in Israel that its winning bid had been approved, as announced the Metro One in a press release on Tuesday.

  • The bid was made to acquire assets out of insolvency proceedings of Royal App Ltd.
  • It was won for approximately US$2.4 million in cash, as well as a controlling interest in Stratford.
  • Shelfy, a white-label, headless e-commerce platform created by Royal App enables retailers and FMCG companies to become growth companies. Royal App, based in Israel, created it.
  • Using artificial intelligence and machine learning, Shelfy enhances online shopping metrics through mobile phones for leading food and grocery chains, as well as major food and grocery retailers.

    Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Finally,

Metro One (WOWI) is seeking institutional investors and family offices to provide $3.5 million of financing in the form of puttable Simple Agreements for Future Equity (‘Safes’) to finance the acquisition and working capital. WOWI anticipates that the acquisition will close next month.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

IT Tech Packaging Inc. (ITP) stock gains during pre-market. Here’s what’s happening?

IT Tech Packaging Inc. (NASDAQ: ITP) stock gained by 7.53% at last close while the ITP stock price rises by 2.04% in the pre-market...

Why did The9 Limited (NCTY) stock turnaround in the after-hours on Friday?

The9 Limited (NCTY) shares gained 6.87% in after-hours on Friday, July 30, 2021, and closed the weekly trading at $11.98 per share. in the...

Energous Corporation Inc. (WATT) stock declines during after-market. Here’s to know why?

Energous Corporation Inc. (WATT) stock gained by 7.05% at last close whereas the WATT stock price plunged by 7.82% in the after-hours trading session....

AMAZON Inc. (AMZN) stock fell during after-market. Here’s the update

Amazon Inc. (NASDAQ: AMZN) stock plunged by 0.84% at last close however moving ahead the AMZAN share price also declines by 7.44% in the...

Cocrystal Pharma Inc. (COCP) stock soars during current market. Here’s what you should know

Cocrystal Pharma Inc. (NASDAQ: COCP) stock gains by 17.44% in the current market trading session. Cocrystal Pharma, Inc. is a clinical-stage biotechnology firm focused...

Best Inc. (BEST) stock gains during current market. Here’s the update?

Best Inc. (NASDAQ: BEST) stock rises by 5.45% during the current market. BEST Inc. is a prominent Chinese supplier of comprehensive smart supply chain...

Dolphin Entertainment Inc. (DLPN) stock rises during current market. Let’s find out why?

Dolphin Entertainment Inc. (NASDAQ: DLPN) stock gains by 17.47% to $9.21 today in the current market trading. Dolphin Entertainment is a leading independent entertainment...

General Electric Company Inc. (GE) stock sky-rocketing during pre-market. Here’s what you should know

General Electric Company Inc. (NASDAQ: GE) stock plunged by 2.56% at last close whereas the GE stock price surged massively during pre-market by 704.32%....

Related News

What Caused The Sino United Worldwide (SUIC) Stock To Drop 50%?

In the last session, the price of Sino United Worldwide Consolidated Ltd (OTCPink: SUIC) spiraled -50.82% to $5.4000. During the session, Sino United's stock...

On What Basis Did HIRU Stock Rise 43%?

Hiru Corp stock blasted into the green at the previous close, rising 43.00% to $0.0143. Volume was 65.87 million against 30-day Average Volume...

Is There Any Reason As To Why The BIGG Digital (BBKCF) Stock Expanded By 30%?

A share of BIGG Digital Assets Inc (OTCQX: BBKCF) rose 30.78 at yesterday's close, to $1.4670. There was an increase in volume of BIGG...

Why Has The Ascot (AOTVF) Stock Price Gained 20%?

The stock of Ascot Resources Ltd (OTCQX: AOTVF) gained significantly as it increased by 20.50% to $0.8858 at last close. The Ascot stock price...

How Does The KinerjaPay (KPAY) Stock Price Increase By 454%?

The payment gateway and eCommerce company KierjaPay Corporation (OTCPink: KPAY) closed Tuesday's trading session at $0.0122, up 454.55%, and has been trading in a...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam