OLB Group Inc. (OLB) shares fell -2.04% in premarket trade to $5.77 at last check. OLB stock declined -9.80% to close at $5.89 on Tuesday. A total of 1.82 million shares of OLB stock were traded, which was higher than the average daily volume of 0.27 million shares within the past 50 days. The price of OLB stock has dropped by -50.92% over the last year, and it has risen by 9.07% this week.
OLB stock has gained 16.87% over the past three months, while it has gained 12.84 % over the last six months. Additionally, OLB currently has a market capitalization of $42.23 million and 6.30 million outstanding shares. Even after making a portfolio acquisition, OLB stock fell.
What acquisitions has OLB Stock made?
In addition to providing payment facilitation and commerce services, the OLB Group also offers cloud-based merchant services for web-based and brick-and-mortar organizations. A seamless, end-to-end solution, OLB’s digital commerce services include site creation, hosting, payment processing, order fulfillment, customer service, outbound marketing, sales reporting, and fundraising.
OLB offers a wide range of services, from private label shopping websites that preserve the unique style and branding of the merchant website, to order fulfillment and customer service, all while remaining invisible to the user so that the merchant’s brand is promoted.
A non-binding letter of intent (LOI) was signed by OLB Group to purchase a portfolio of CBD merchants who would use the SecurePay Payment Gateway to process payment.
- More than $300 million in transactions are reported annually by the group of merchants being acquired.
- By closing the transaction, OLB will gain a more accomplished and experienced sales channel, allowing for even greater penetration in one of the fastest-growing markets in the United States.
- The transaction will increase OLB’s revenue by over $13 million, as well as its EBITDA by $3.6 million.
- This is nearly double its current revenue. The deal will also facilitate the expansion of SecurePay services and the eCommerce business of OLB.
- OLB has not disclosed the terms of the agreement.
- In securing this group of successful merchants, OLB will benefit by entering into an LOI.
- OLB will be positioned well in the market once the acquisition has been closed, as growth and profitability continue to be strong.
- SecurePay offers merchants and their customers multiple payment options in a single, secure ecosystem, which extend beyond traditional card payments. Platforms like OLB are ideally suited to tackle the lucrative CBD market.
How OLB will disrupt the CBD market?
Grandview Research’s latest market analysis indicates that the CBD market was worth $2.8B in 2020 and that it is anticipated to grow by 21.2% through 2028. In addition to tapping the CBD market’s projected growth, OLB’s acquisition positions the company to address the payments concerns the rapidly growing CBD market currently faces.
