Over the past years, the financial technology sector has grown at an impressive pace and it is no surprise that many investors are now increasingly looking for stocks in companies from that sector. Those looking into such stocks this week could do well to take a closer look at the Peak Fintech Group Inc (OTCMKTS:PKKFF) stock.
The stock has emerged as a major gainer over the past week and managed to clock gains of as much as 26%. There has been no news about the company over the past week but it might be a good move to look into the announcement made by Peak Fintech back on July 29.
The company is primarily involved in providing its services to the commercial lending industry in China and on July 29 it announced that it picked up a minority in Rongbang Technology Ltd. Rongbang is a subsidiary of China UnionPay and marks an important new deal for Peak Fintech.
By way of this agreement, Peak Fintech is going to be able to use the network operated by China UnionPay for the purposes of payment settlement and fund transfer. Investors could consider adding the Peak Fintech stock to their watch lists at this point.