Sino United Worldwide Consolidated Ltd (OTCMKTS:SUIC) Stock Soars 33%: Here is Why

Midas Touch and Sino United Worldwide Consolidated Ltd (OTCMKTS:SUIC) on October 1, 2021, announced signing with E-commerce companies, to offer customized products as well as services benefiting over 500,000 partners and merchants. This will ensure a surge in their merchant base and the two companies will replicate and adapt the model in $6-trillion EC markets worldwide.

Since last year, economic conditions globally have witnessed changes expanding the reach of e-commerce and the two firms give solutions for merchant partners’ pain points. SUIC has tie-up with Bznk, X-Turn as well as PCHome, the largest Taiwan B2C ECP.

X-Turn, through a joint sales platform with Chunghwa Telecom Hami Market, has over a billion user rights. The company, has more than 300,000 registered members, over 200,000 merchandise, and 5,000 merchants on the X-Turn e-store.

Bznk was formed for serving over 1.35 million small as well as medium-sized enterprises in Taiwan through P2P technology. The company adopted a reliable credit rating system and big data system analysis. It is signing a three-party agreement with Midas Touch as well as PCHome for providing services and products to PCHome.

SUIC is aiming to launch marketing programs commencing from the Taiwan office and aims to expand business globally. Midas and SUIC will form local offices in various countries for serving PSPs and partners.

Market Reaction:

On Friday, SUIC stock soared 33% to $1.35 with more than 67K shares, compared to its average volume of 38.77k shares. The stock has moved within a range of $0.9900 – 1.4000 after opening the trade at $1.01.