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Touchpoint Group Holdings Inc (OTCMKTS:TGHI) Stock Skyrockets On Hefty Volume

Madison Hall , , , ,

Touchpoint Group Holdings Inc (OTCMKTS:TGHI) stock was one of the biggest gainers on Friday with a jump of over 115%. Will the stock continue to move up?

Market Action

In the previous trading session, TGHI stock soared 114% to $0.0300. A total of 51.48 million shares traded for the session hands, above its average volume of 2.05 million shares. The stock opened at $0.0137 and moved in a range of $0.0127 – 0.0330.

Key Trigger

September 20, 2021 – Touchpoint Group Holdings Announces Transformational Acquisition of World Championship Air Race

Touchpoint Group announced that it has acquired the World Championship Air Race (WCAR) through an asset purchase agreement. Management and all key operational staff for the WCAR will join Touchpoint’s wholly owned subsidiary, Air Race Limited (Company), under long-term agreements. In addition, all key supplier, participating host city and participating team contracts will be assumed by the Company.

WCAR is a race format developed by Red Bull as the Red Bull Air Race. The Red Bull Air Race was founded in 2003 and has hosted 94 championship series races around the globe. It has attracted viewers in 187 countries and has been broadcast to an audience of over 230 million viewers with over 2.3 billion media impressions worldwide in its most recent season. It is the largest live spectator sports event in the world attracting over 1 million spectators to a single air race on multiple occasions in cities such as Porto and Barcelona.

Touchpoint plans to utilize its expertise in audience engagement through its application development to enhance the audience’s experience, while at the same time creating new revenue generating verticles for the races.

Key Quote:

Mark White, CEO of Touchpoint, commented, “We are extremely excited to announce this transformative acquisition of the WCAR following our recent partnership to support Air Race through our Touchpoint App.  The enormous potential of this event was immediately evident to us, given Air Race’s exceptional legacy.  As such, we’re excited to take the reigns in order to help develop the Series proposition further, making the international events and racing even more captivating and experiential for fans and spectators than ever before. “

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.