This morning it is quite likely that a number of investors are going to be focussed on the Frontera Group Inc (OTCMKTS:FRTG) stock considering the fact that it had managed to clock gains of as much as 15% yesterday.
Market Reaction
On Thursday, FRTG stock moved up 15% to $0.31 with more than 2.8k shares, compared to its average volume of 1.33K shares. The stock moved within a range of $0.3100 – 0.3900 after opening trade at $0.39.
Key Details
In light of such gains, it could be a good idea for investors to consider taking a look at the announcement from the company on Thursday. The company, which is actively involved in the acquisition of intellectual property, announced yesterday that it had been successful in the acquisition of some intellectual property from the company Intellimedia Networks Inc.
It ought to be noted that the latest acquisitions were part of the larger strategy from Frontera to make more acquisitions from the suite of tech solutions that are offered by Intellimedia. The latest announcement proved to be a source of positivity for investors and the stock rallied strongly as a consequence.
The intellectual property assets that were acquired by the company will give it access to event broadcasting tech, media tech and also learning platforms. It may now be a good idea for investors to add the stock to their watch lists and watch out for further price action today.
Key Quote
“Our acquisition of Intellimedia Networks’ IP places Frontera at the leading edge of the metaverse world of augmented reality, virtual reality, and interactive worlds that are poised to generate significant revenue in training and media technology applications. Frontera will participate in expanding a new mode of knowledge-sharing utilizing ROI-proven technologies,” said Mr. Andrew De Luna, CPA, MBA, Interim Chief Executive Officer, Chief Financial Officer, and Vice Chairman of FRTG.
