Digital tech and media holding company Touchpoint Group Holdings Inc (OTCMKTS:TGHI) started the week off on a strong foot in the markets on Monday and ended the day with gains of as much as 38%.
The handsome gains made by the stock may bring additional attention to the stock this morning but investors need to note that there was no news about the company yesterday that may have triggered such a remarkable rally. In this situation, it might be a good move to take a look at a development from last month.
Back on September 20 Touchpoint Group announced that it had successfully completed the acquisition of World Championship Air Race by way of an asset purchase agreement. However, that is not all. All the participating team contracts, supply deals and agreements with participating host cities moved into the control of Touchpoint once the acquisition was completed.
World Championship Air Race is a unique race format which had originally been created by Red Bull and used to be known as the Red Bull Air Race. It is quite popular and has managed to grab eye balls in as many as 187 nations across the world. It also clocked 230 million viewers.
