There are a number of companies that were in focus among investors on Thursday and one of those is Protect Pharmaceutical Corporation. The name of the company may be a bit misleading considering the fact that Protect Pharmaceutical (OTCMKTS:PRTT) is actually a fully-fledged software development firm.
Trading Data
On Thursday, PRTT stock gained 0.05% to $0.4197 with more than 1.7K shares, compared to its average volume of 4.8K shares. The stock moved within a range of $0.4197 – 0.4197 after opening trading at $0.4197.
About The Company
Protect Pharmaceutical is involved in producing and supporting digital products that may be meant for both business-to-consumer and business-to-business markets. The primary business of the company is in customized software development for a wide range of industries starting from machine learning and data science to finance and real estate. Yesterday, the company was in focus after it announced that it was on the verge of completing an acquisition that could prove to be a ‘game changer’.
(UPDATE) The game-changing acquisition was announced by Protect Pharmaceutical Corporation.
Protect Pharmaceutical announced yesterday that it was going to ink a share exchange agreement with the firm CJSC Inaiapp by way of which it would complete the acquisition of 100% of the shares in the latter. CJSC Inaiapp is major blockchain solutions providing company and is based out of the European Union region.
The acquisition is a strategic one for Protect Pharmaceutical since it is going to help the company in making a strong move into the fast-growing and potentially lucrative web 3.0 market. The reason why the potential acquisition is being seen as a game-changer is because of the fact that Inaiapp boasts of a highly skilled and competent development team and is expected to add considerable value to Protect Pharmaceutical right away.
It is believed that the acquisition will provide Protect Pharmaceutical with the launch pad to become one of the emerging forces in the tech innovation space. In addition to that, it would also bring the revenues and cash flow that would be necessary for the company to continue with its innovative products.
Inaiapp had been established back in 2014 and throughout that time it has been involved in the blockchain development space. During that time, it has also helped the growth of a wide range of businesses thanks to the service it provides. It remains to be seen if the Protect Pharmaceutical stock comes into focus today or not.
Key Quote
“We not only point out the obvious value, that Inaiapp will bring to PRTT, but also the impact, that public trading company could create with Inaiapp’s assets”, says Nick Greb President of Protect Pharmaceutical Corporation, Inc.
Technical Data
PRTT stock is trading above the 20-Day and 50-Day Moving averages of $0.3898 and $0.3973 respectively. However, the stock is trading below the 200-Day moving average of $0.5207.
