These shares broke through resistance at the $5.00 level last week making the next test of the all time month high of $9.43. After the breakout above $9.453 we look for the next resistance at $13.50. A large short position may propel these shares higher
Big things are happening with FNGR and they well on their way to an up listing and solid revenue growth. A large short position exists, We are told 1.7 million shares are short . This could trigger panic buying should the stock accelerate to the upside.
Chinese mobile payment and mobile services company FingerMotion Inc (OTCMKTS:FNGR) has seen its stock gain significant momentum in recent days. Over the course of the past week, the stock has rallied strongly and gained as much as 50%. The rally came about on the back of a significant announcement from the company.
Earlier this month, FingerMotion announced that it was going to host a webcast following the closure of the markets on October 29. Those who are interested can listen to the webcast on the investor relations section on the FingerMotion website.
The company is going to provide the details of its fiscal second-quarter financial results and also discuss some of the upcoming operational plans at FingerMotion.
The webcast in question is going to be hosted by the Chief Executive Officer of the company Martin Shen. The company is going to furnish further details regarding the webcast closer to the day of the event.
About the Company
FingerMotion is a technology company that is still developing its core businesses. At this point, it is involved in providing recharge platform services and mobile payments to users in China.
At this point, FingerMotion is one of a small number of companies that can get hold of rechargeable minutes at a wholesale rate form some of the biggest mobile phone operators in China. FingerMotion sells those minutes at a profit to its customers.
The company hopes to expand its user base considerably and aims to serve as many as 1 billion customers in China alone. Eventually, it wants to enter other markets as well.
Big Data Push
FingerMotion has also been intent on branching out into other businesses and back in July, it announced the launch of a new business arm. The outfit in question is Sapientus, which is going to be involved in providing big data-powered insights into the insurance sector.
Sapientus will help financial services and insurance companies with data-driven insights into their businesses. It is a significant development since it marks the company’s entry into the big data industry.
Sapientus is going to provide companies in the insurance sector with actionable insights and a range of products and services that could give them a compelling competitive edge.
Some of the services include transactional integration with real-time feedback and data analytics powered insights. The company’s collaboration with two Chinese telecom companies will also provide Sapientus with a continuous flow of telco data.
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