Over the course of the past few weeks Tingo Inc (OTCMKTS:TMNA) has seen its stock make considerable gains. In the past week alone, the stock managed to clock gains of as much as 16% and that took the gains made over the course of the past month to as much as 49%.
Trading Data
On Thursday, TMNA stock ended flat at $2 with more than 499 shares traded, compared to its average Thursday of 838 shares. The stock moved within a range of $2.0000 – 2.0000 after opening trading at $2.25.
Tingo, Inc. Releases Results for 2021 and Engages Financial Advisor
In light of such considerable gains, it may actually be a good time for investors to consider taking a closer look at the Tingo stock. As a matter of fact, the company was in the news yesterday after it announced its financial results for the fiscal year that had ended on December 31, 2021.
The company managed to generate revenues to the tune of as much as $865.9 million and on the other hand, the operating for the fiscal year stood at $327.1 million. That was a considerable jump from the $585.3 million in revenues that the company had generated in the prior year period and operating income of $201 million.
Hence, it is perhaps not a surprise that the stock was in focus among investors yesterday and managed to emerge as one of the major gainers. It may be a good idea to add Tingo to your watch lists at this point.
Key Quote
Commenting on the financial results of the Company and Tingo Mobile for 2021, Dozy Mmobuosi, Chief Executive Officer, stated: “We are pleased to report strong operating performance for the year 2021 and the continued growth of our Agri-Fintech business. With our recently announced financial technology partnership with Visa, we expect to expand our Agri-Fintech services to generate more commercial opportunities for our existing customers, as well as incentivize more rural farmers and communities to become subscribers and utilize our financial technology platform. We also look forward to working with Lazard to advise the Company on its future strategy.”
