Why Is Authentic Holdings Inc (OTCMKTS:AHRO) Stock Up 30% In a Week?

If a stock makes sustained gains over a period of around a week then it may be a good idea for investors to consider tracking that stock. There have been a number of stocks that fit the bill and one such stock is the Authentic Holdings Inc (OTCMKTS:AHRO) stock. In the past week, the stock has been in the middle of a strong move and clocked gains of as much as 30%.

There has not been any fresh news about the company in the past week but on June 20, Authentic Holdings announced that it had completed the acquisition of the firm Goliath Motion Pictures Promotions. The Chairman and President of the company Chris H Giordano spoke about the acquisition as well and noted that it was a major part of the ‘strategic puzzle’ at Authentic Holdings. He noted that it was going to help Authentic in building a major media and merchandising company owing to the sheer size of the content that Goliath Motion Pictures had to offer.

Giordano stated that Goliath Motion Pictures had been working on building its substantial catalog for the past 17 years. The catalogue is made up of more than 15000 films of full length and television series shows from across every possible genre starting from the 1940s through to 2021. The acquisition provided Authentic Holdings with a massive library of films and Giordano went on to note that it would continue to add hundreds of films every month.

The company seeks to boost the breadth of films to the existing ones from Goliath Motion Pictures so that the library could be monetized in the immediate future. The company noted that since it had ownership of the massive library of films, it was the company’s aim to bring those titles to life through tokenization. Tokenization would help in making the films secure and also launch a major opportunity for distribution of the same films to movie enthusiasts all across the world.

The company noted that tokenization would also help Authentic Holdings in distributing the films from Goliath Motion Pictures to platforms outside the United States without being at risk of any piracy or payment-related difficulties.

The company had earlier acquired Maybacks Global Entertainment Network and the updated library would also provide additional programming from Maybacks. Authentic Holdings also noted that it would also work on the necessary Smart Contracts and apps so that the library could be compatible with the growing ‘Smart TV’ market. Additionally, it would also be compatible with Android and iOS platforms.

Authentic announced at the time that it expected the app for Smart TVs, Android, and iOS to be completed in a matter of six to eight weeks. A soft launch of the app would also be conducted through a soft launch in a test market by the end of August.

The company also pointed out that the acquisition of Goliath Motion Pictures had been accomplished without any dilution of the company’s shares. The acquisition had been conducted through the issuance of 100000 Series D $50 Preferred shares and it would be non-convertible for three years.