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All American Pet Co Inc (OTCMKTS:AAPT) Stock Pulls Back a Bit After The Big Gains

Ash K , , , ,

All American Pet Co Inc (OTCMKTS:AAPT) stock pulled back a bit as investors booked profit on Friday after the recent big upmove. The stock has soared almost 165% over the past month.

Market Action

In Friday’s trading session, AAPT closed lower by 6.40% to $0.0265. More than 143.10 million shares have exchanged hands, above its average volume of 48.09 million shares. The stock opened at $0.0290 and moved in a range of $0.0252 – 0.0315.

September 24, 2021 – All American Pet Company To Acquire Kuora In 200 Million Transaction

Here are the highlights:

All American Pet Co actively pursuing acquisitions announces it will be acquiring Kuora Industrial Interconnect Limited (“Kuora”) in a USD 200 Million transaction.

The Company is pleased to announce it is in the final stages of the acquisition process of its target candidate: Kuora Industrial Interconnect Limited. (“Kuora”).

Established in 2018, Kuora is an online services e-technology platform that connects companies and individuals looking for industrial technical expertise. Kuora’s revenues stem from B2B, B2C and C2C transactions on its e-technology platform. To date, Kuora’s platform has reached approximately 200,000 vertical users, over 1,000 experts and more than 3,000 enterprises.

In the wake of the COVID pandemic, access to labor, and more so industrial technical expertise, has become harder than ever. While the model for platforms such as Kuora is not new, the need for more flexible access to professionally qualified technical experts has grown exponentially. Kuora prides itself in currently being in a subset of the industry where there has historically been a skill gap.

Key Quote:

“Kuora is positioned to be a key player in the Gig Economy. The niche it operates in is largely underserved. The geographic market is still unsaturated and as such, there is a significant growth within the Asian market without even including future planned markets. It is also an incentivized industry in the geographical region it currently operates in”, commented David Chong, Chief Financial Officer of All American Pet Company.