Another blockchain company stock that has made a strong move in recent days is that of Graph Blockchain Inc (OTCMKTS:REGRF). Over the course of the past week, the stock has moved strongly and has managed to deliver gains of as much as 7%.
Yesterday, the company announced that it finally completed the previously announced acquisition of the artificial intelligence powered crypto coin analytics tool firm Optimum Coin Analyser Inc. It is a significant new acquisition for the company and it now remains to be seen if the closing of the deal leads to any fresh momentum in the Graph Blockchain stock or not.
In this context, it might be a good idea for investors to perhaps get a better idea about the nature of Optimum’s business. The company operates a discovery search engine that is powered by cloud and people have to subscribe to it. Hence, the acquisition is going to create a readymade and recurring source of revenue for Graph Blockchain.
As a matter of fact, Graph Blockchain actually noted that the acquisition is going to help in the creation of a steady stream of revenue. The acquisition was completed for a consideration of $5000000 and Graph completed it by issuing 71428571 units.