Investors as well as market analysts are expected to keep a watch on the iQSTEL Inc (OTCMKTS:IQST) stock this week and see if it can make a recovery after having declined by as much as 10% last week.
In this regard, it is perhaps also important to keep in mind that there was no news about the company last week and the decline may seem entirely random. That being said, back on August 6 the company did announce that it was going to start the installation of as many as 2500 units of the device known as IoTSmartTank through the course of this month.
The device is a proprietary product of the company and the devices are going to be installed for a solitary client. While the identity of the client has not been revealed by iQSTEL it should be noted that it is Fortune 500 company which is involved in the chemical sector.
However, the most important thing to keep in mind in this regard is that the monetary value of the contract, in addition to the revenues that are going to be generated from maintenance and monitoring services, are going to help the company’s technology division to hit breakeven.