Taoping Inc. (TAOP) stock signed a strategic cooperation agreement with Shenzhen IntelStrat Technology Co., Ltd after then stock became bullish today. Taoping stock price saw a surge of 29.19% to reach $4.16 a share at the time of this writing. The stock closed at $3.22 per share with an 8% drop in the last trade. Let’s deep dive to explore more of it.
TAOP stock’s Agreement with IntelStrat:
Taoping Inc is the provider of cloud-based services, blockchain technology, and big data solution to various Chinese companies. IntelStrat is established in 2016 and is the provider of blockchain solutions to various organizations and businesses. Taoping recent agreement with IntelStrat has a tenure of three years. The main three points of the agreement are as follow.
- Both Taoping stock and IntelStrat will collaborate with each other to establish a data center. The data center will be based on distributed storage for cloud desktop, cloud gaming and rendering, and AI business service.
- TAOP existing potential areas for blockchain adoption will use IntelStrat blockchain technology. This move will expand the market share for both enterprises in blockchain adoption.
- Both companies will jointly establish the blockchain industry fund. Furthermore, TAOP stock and IntelStrat will work together to explore and invest in rising blockchain companies. The main reason behind this is to promote blockchain technology in the industry.
TAOP stock to acquire 51% of Zhenjiang Taoping:
Two days ago on July 28, 2021, TAOP stock signed the letter of intent with shareholders of Zhenjiang Taoping IoT Technology Limited for the 51% acquisition of Zhenjiang Taoping. After continuous hard work of three years, Zhenjiang Taoping is now the leading media platform in Zhenjiang. Its average daily viewership traffic has now surpassed 250,000. The purchase price will be paid in the form of TAOP ordinary shares. The management is optimistic that this acquisition will accelerate TAOP’s east China acceleration project.
TAOP’s further Developments:
- Taoping stock promoted Huan Li to Chief Marketing Officer.
- On June 9, 2021, TAOP stock closed its acquisition of Taoping New Media.
- TAOP participated in Asia OOH 18th China Outdoor Communication Conference held in Chengdu, China.
- Besides the “Top Media in Shopping District” award, TAOP stock received acknowledgment for its multi-scene advertising and innovative use of digital transformation in the conference.
Wrap Up:
Investors are responding positively to the recent news of the TAOP stock. The stock is progressing with time and can be a good bet for investors in the long run.
