Net Savings Link Inc (OTCMKTS:NSAV) Announces New Acquisition: Stock Reacts Positively

Those who may be looking into cryptocurrency stocks this morning could consider adding the Net Savings Link Inc (OTCMKTS:NSAV) stock to their watch lists. The Net Savings stock made a major move this past Friday and ended up with gains of as much as 31% amidst heavy interest.

Trading Data

On Friday, NSAV stock soared 31.07% to $0.0183 with more than 37.63 million shares traded, compared to its average volume of 26.65 million shares. The stock moved within a range of $0.0136 – 0.0190 after opening trading at $0.0141.

NSAV Signs Definitive Agreement To Acquire A 50% Stake In Vagabond Technology Solutions, LLC.

In light of such gains, it may be a good time to look into the development on Friday that led to the remarkable rally. The cryptocurrency, digital asset and blockchain technology company announced last Friday that it had inked a definitive agreement by way of which it was going to pick up a 50% interest in the company Vagabond Technology Solutions LLC.

It was a major deal for the company and the market participants seemed to have welcomed it as well. The rally in the stock price is an indication of that. It was announced that the two companies are going to collaborate are going to be involved in the development and marketing of the blockchain protocol from Vagabond. In this regard, it ought to be noted that the blockchain protocol in question is already quite successful. Hence, it can be said that the excitement about the deal is perhaps justified.

Key Quote

Dr. Thomas Riegler, Vagabond CEO and Silverbear Capital partner stated, “By making Blockchain accessible for everyone, we set the next step towards a decentralized economy with the partnership between Vagabond & NSAV. The goal of standardizing and automating processes is to significantly simplify the global system landscape, continuously optimize workflows, and increase confidence in business transactions.”

Technical Data   

NSAV stock is trading below the 50-Day and 200-Day Moving averages of $0.0220 and $0.0288 respectively. Moreover, the stock is trading above the 20-Day moving average of $0.0168.