WarpSpeed Taxi Inc (OTCMKTS:WRPT), which is a tech company involved in the development of an all-encompassing software solution for ride hailing, courier services and food delivery, saw its stock trade within a range on Wednesday.
Trading Data
On Wednesday, WRPT stock moved up 0.56% to $1.81 with 23K shares, compared to its average volume of 4.5K shares. The stock moved within a range of $1.7000 – 1.8100 after opening trade at $1.79.
WarpSpeed Taxi Announces Signed Licensing Agreement for USA
However, at the same time, it ought to be noted that the company was in the news yesterday following a key announcement. WarpSpeed announced yesterday that it had managed to ink a licensing agreement which was expected to help the company in spreading its foot print in the United States in a meaningful way. It goes without saying that the announcement from the company was a significant one.
It was announced yesterday that WarpSpeed had managed to sign an agreement with a joint venture partner, who is based out of the United States. As per the provisions of the agreement, the two companies are going to be working together towards the development of delivery and ride hailing operations in the United States.
The white label software platform that has been developed by WarpSpeed is loaded with unique features and that is going to be deployed for the development of the services. Investors could do well to keep an eye on it.
Key Quote
“This is ahead of our planned timeline for expansion, which is a very strong signal about the viability of our model in terms of finding competent and willing partners to fund and drive local operations in new markets,” noted Daniel Okelo, CEO of WarpSpeed Taxi. “We are getting set to launch in India this spring, as previously communicated. Now we have our partner in place for our US presence. We also have negotiations underway with another potential partner to expand into a third national marketplace. We look forward to announcing further details as that process unfolds.”
