International Endeavors Corp. (OTC:IDVV) Stock Pulls Back: Here is Why
The technology holding company International Endeavors Corp. (OTC:IDVV) could be one of the companies to keep track of this morning following the statement that the company released on Wednesday. The company reiterated in the statement that it was going to be focused on a number of action items, including the strengthening of WITech.ai as the primary holding of International Endeavors Corp. Additionally, the company revealed that it had also been making preparations for acquisitions while eliminating certain costs and expanding its product offerings.
In the statement, it was noted that the main product or service from WITech was a customizable AI bot that was powered by technology developed by WITech. The product had proven to be a success, and International Endeavors Corp. noted that it expected the revenues from the sales and licensing of the technology would help boost shareholder value. It could also help in opening up fresh opportunities for the company.
International Endeavors Corp. announced yesterday that it was on the verge of expanding its WITech offerings. The company was in the final stages of negotiations with regards to a letter of intent pertaining to the acquisition of a company involved with the deployment of artificial intelligence in adult markets.
International Endeavors Corp. announced that the company that it had been negotiating with had started off with sports betting and then gone on to develop an artificial intelligence-powered platform. The platform had been built to help users with picking winners, odds management related to fantasy leagues, research, professional sports betting across major sports leagues in the United States, and horse betting.
Recently, sports betting was legalized in the United States, and that led to the industry turning into a multibillion-dollar opportunity within a short span of time. The upward trajectory has been sustained.
