WaveMax WiFi deal bumps Cuentas priceFintech company Cuentas leads TradingView’s top gainers on Wednesday after agreeing to roll out new shared WiFi infrastructure in 170 test locations.
Cuentas provides mobile banking and payment solutions, specifically to underserved or underbanked communities such as Latino and Hispanic customers. The stock has been traded over the counter since 2013, but recently uplisted onto the NASDAQ at a price of $4.30 per share – rather lower than the $7 it was trading beforehand. It raised around $12 million in its IPO in February, but its price has only closed above $4 a handful of times since then.
The recent bump is largely thanks to some secondhand glory. Cuentas recently signed a contract to roll out SharedFi, which is WaveMax patented technology that allows for a shared network of WiFi access points. It’s exciting news for location-based advertising, and investors seem to be responding positively..
Cuentas is benefiting off the back of this bump, and prices closed at $6.22 after reaching highs of $9.25 on Wednesday. If the test sites are successful, the pair will join forces to instal 1,000 additional “Bodega Stores” in a joint venture, which could see a further boost.