GBOX - California Tech Firm Catches Bid Following Key Management Appointment
Some of the time, when a key management change is announced, investors and traders don’t bat an eye. However, on some rare occasions, a simple management announcement could cause massive price moves in the company’s shares. This is exactly what happened Tuesday morning after %GreenboxPOS () announced that it has named J. Drew Byelick as its Chief Financial Officer (CFO). This caused traders to bid up the shares during Tuesday’s premarket.
GreenBox POS is a technology company that develops, markets, and sells blockchain-based %PaymentSolutions , which offers significant improvements to the payment solutions marketplace. It has three main products. %QuickCard Payment System is a comprehensive physical and virtual cash management system, including software that facilitates deposits, cash and e-wallet management. POS Solutions is an end-to-end Point of Sale solution, comprising both software and hardware. %Loopz Software Solution is a mobile delivery service operations management solution with automated dispatch functionality. It generates revenue from payment processing services, licensing fees, and equipment sales.
As previously mentioned, traders appear to be bullish on the news as shares of this California-based micro cap got bid up to $1.52/share (+19.69% implied open for sellers) at the time of writing. This move would be a strong continuation of the success this stock has had over the last month.
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