Pennexx Foods Inc (OTC:PNNX) Stock Gains Momentum: But Why?

Although the company may be known as Pennexx Foods Inc (OTC:PNNX), it should be noted that it is involved in the internet and software industries.

The company mainly operates through a range of fully owned subsidiary units and those subsidiaries are focusing on industries like consumer rewards, social media, artificial intelligence, prepaid debit cards, and targeted marketing among other spaces.

Trading Data     

On Thursday, PNNX stock moved up 1.68% to $0.0605 with more than 50K shares, compared to a volume of 39K shares. The stock has rallied about 16% in the past week.

Recent News

The company has managed to accomplish a lot in recent times and one of the more significant developments had taken place last year in November. Back on November 16 last year, the company announced that it had gone into a marketing and licensing agreement with iTouchOrlando and iTouchNetwork.

As per the provisions of the agreement between the parties, the Spin2Win technology and the digital advertising with marketing kiosk advertising from iTouchNetwork are going to be integrated into Pennexx 4.0 wallet.

In addition to that, those technologies are also going to be added to the Your Social Offers shopping platform that is offered by Pennexx. The integration of such a nature could only prove to be a major deal for Pennexx in the long term and could help the company in offering a wider array of services to its clients. The Pennexx Wallet would allow its users to get access to highly valuable offers and coupons on a daily basis and are going to be featured through the iTouchNetwork.