Readen Holding (OTCMKTS:RHCO) Stock Suddenly soars 53% in a Week: What Next?
Readen Holding (OTCMKTS:RHCO) stock was one of the biggest gainers last week with a jump of over 53%. Will the stock continue to move up?
Market Action
In the previous trading session, RHCO fell 1.50% to $0.1123. A total of 1.93 million shares traded for the session hands, above its average volume of 159K shares. The stock opened at $0.1140 and moved in a range of $0.1050 – 0.2100.
Key Trigger
RHCO ANNOUNCES PARTNERSHIP WITH MEZZOFY
Readen Holding announced that its wholly- owned subsidiaries, OkeApp and OkePay, have signed a Collaboration Agreement with Mezzofy, a leading Digital Coupon Platform in Asia. The strategic partnership would integrate existing Mezzofy merchants into OkeApp and OkePay instantly.
Established in 2014 and headquartered in Hong Kong, Mezzofy (www.mezzofy.com) has led the transformation of the coupon industry over the last seven years. As a coupon solution provider for merchants, developers and marketers, Mezzofy has established a strong foothold in the Asian coupon market, and merchants are using Mezzofy app worldwide to issue coupons. The merchant base includes many well-known brands such as, MasterCard, Maxim’s Group, Starbucks, Giorgio Armani, GS1, NTT, Loreal, YSL and the list is growing every day. Mezzofy has handled an estimated 300 million coupons, which has a value of over 30 billion HK dollars, through over 10,000 outlets.
The collaboration will allow OkeApp to have full access to Mezzofy’s merchant base, and Mezzofy will assist in the integration between OkeApp and the merchants. RHCO originally forecasted to sign between 8,000 and 10,000 new merchants on the OkeApp platform within the next twelve months in Hong Kong, which will eventually bring 4 million payment transactions per month.
Key Quote:
Richard Klitsie, CEO of RHCO stated, “Mezzofy is the most successful digital coupon platform globally, and we are excited to partner with Mezzofy. The collaboration not only brings OkeApp their existing merchants but will definitely realize OkeApp and Mezzofy’s potential to achieve an even higher level by joining forces.”
