There were some stocks that had emerged as notable gainers on Wednesday and this morning, it may be a good idea for investors to take a look at some of those. One of the stocks to have made a notable upward move yesterday was that of Sanwire Corporation (OTCMKTS:SNWR), which ended the day with gains of as much as 9%.
Trading Data
On Wednesday, SNWR stock gained 9.09% to $0.0072 with more than 107K shares, compared to a volume of 261K shares. The stock moved within a range of $0.0072 – 0.0074 after opening trade at $0.0072.
About The Company
Before considering a stock, one has to take a look at the latest developments which may have led to the rally and also at the nature of the company’s business in order to have a broader idea. Sanwire is a diversified firm that is focused on technologies that are aimed at the lucrative entertainment industry.
Over the course of the past many years, Sanwire has been involved in aggregating such technologies. The company notes that it mainly looks for opportunities in markets which are fragmented. In such markets, it is possible to then use technology to bring about consolidation by having a single delivery platform.
Intercept Music, Sanwire Subsidiary, Accelerates Its Revenues By Signing A Global Marketing and Distribution Services Agreement with CC Enterprises
The company was actually in the news cycle yesterday after it made an announcement with regards to Intercept Music Inc, its fully owned subsidiary unit. Intercept Music is focused on innovations in the entertainment technology space and yesterday, it was announced that the subsidiary had managed to get into a distribution and marketing partnership with CC Enterprises.
The agreement is going to run for several years. CC Enterprises is a worldwide leader in the singer-songwriter competition industry. It seems that the agreement came as a source of considerable excitement for investors and that led to the strong rally in the stock yesterday.
It now remains to be seen if the Sanwire stock can manage to hold on to its momentum over the course of the rest of the week or not. As per the provisions of the agreement signed between the two parties Intercept is going to a worldwide sponsor of a Music Marvel competition series and in order to accomplish that the company is also going to create a new label named Music Marvel Media.
The artists who are going to participate in the whole thing are going to have the backing of all the worldwide marketing tools that are going to be provided by Intercept. In addition to that, the artists’ works are also going to be distributed throughout the world through Universal Music Group/InGrooves. The deal may well prove to be a major boost for Intercept and by extension for Sanwire.
Key Quote
“Intercept Music completes a major part of our puzzle,” said Cheryl Corinthian, CEO of CC Enterprises . ‘We only work with artists who are serious about their work and we receive some incredible submissions. By creating a label with Intercept and then powering all these artists with their services, we have an opportunity to springboard these incredibly talented artists into having a true music career.”
Sanwire Subsidiary Intercept Music Signs Massive Reggae Catalog
Sanwire had been in the news last week as well after it announced that continued expansion through which it was looking to include some of the top-level artists from the world of music in its offerings. As per the deal that was announced on July 13, 2022, the company announced that it had managed to rope in the reggae musician and producer McWarren Music to Intercept. Intercept would be responsible for the promotional, merchandising, and marketing services for the producer.
Technical Data
SNWR stock is trading below the 20-Day and 50-Day Moving averages of $0.0075 and $0.0075 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0082. The company has a total market capitalization of $336K. The stock is down 28% over the past 6 months.
