|Bid||0.00 x 900|
|Ask||0.00 x 3200|
|Day's Range||5.95 - 7.52|
|52 Week Range||1.86 - 16.86|
|Beta (5Y Monthly)||0.90|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Digital advertising solutions provider Taoping Inc (NASDAQ: TAOP) inked a share purchase agreement to acquire a 51% stake in Genie Global Limited subsidiary and cloud infrastructure service provider, Render Lake Tech Ltd for a purchase price of $1.53 million based on the valuation of 0.14 shares. Render Lake provides wide-ranging cloud solutions and develops cloud desktop, cloud rendering, cloud computing, NFT (Non-Fungible Token), and cloud gaming businesses through its Trusted Partner Network (TPN)-compliant data centers. TAOP also announced the launch of the NFT Business Division. Cloud computing, blockchain, overseas capital market veteran, and former Grand Shores Technology Co-CEO Qian Wang was appointed as TAOP CIO, NFT Business Division director, and Render Lake GM. TAOP held cash and cash equivalent of $0.5 million as of June 30, 2020. Price action: TAOP shares traded higher by 4.4% at $10.5 the premarket session on the last check Wednesday. See more from BenzingaClick here for options trades from BenzingaTAOP To Acquire Taoping New Media For M© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Taoping Inc (NASDAQ: TAOP), a provider of smart display terminals and solutions for targeted advertising and online retail, inked an agreement to acquire Taoping New Media Co., Ltd for 1.2 million TAOP shares. The purchase price amounts to $15 million based on TAOP’s Thursday closing price of $12.36. Taoping New Media would become a wholly-owned subsidiary of TAOP’s variable interest entity Biznest Internet Technology Co, Ltd. Taoping New Media was a media operator in China’s out-of-home digital advertising industry. It had acquired smart display screens from TAOP in 2017 and built up its digital advertising network based on TAOP’s cloud platform. TAOP CEO Jianghuai Lin, as Taoping New Media’s major shareholder, would receive 0.6 million shares. The acquisition would enable TAOP to foray into a $25.5 billion out-of-home advertising market in China with end-to-end digital marketing solutions as per Lin. TAOP’s cash and cash equivalents amounted to $0.3 million as of June 2020. TAOP stock price climbed 334% in the last three months. Price action: TAOP shares traded higher by 5.83% at $13.08 on the last check Friday. See more from BenzingaClick here for options trades from BenzingaWhatsApp Ropes In Amazon Payments Veteran For Indian Payments Business: ReutersSkillz Raises 8M From Secondary Share Sale Priced At © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Taoping (NASDAQ:TAOP) stock is on the rise Friday after announcing a deal with Great Bay Capital Investment Limited. Source: Shutterstock A news release reveals that Taopin has entered into a two-year agreement that has Great Bay Capital serving as a consultant. This will have it offering business development services to the company with a focus on blockchain technology. That agreement will aid Taoping in its efforts to invest in cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH). It also gives the company the benefit of exposure to possible future investors in its business.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Another benefit for Taopin from the deal is the possible introduction to blockchain merger and acquisition targets. Great Bay Captial will also work alongside the company and help it with any M&A plans. The deal between the two companies also includes a warrant for Great Bay Capital. This is being given within seven days after the start of the consulting agreement. It allows Great Bay Capital to purchase 1,000,000 shares of TAOP stock at a price of $3.50 per share. 7 Overvalued Stocks Investors Just Don’t Get Tired Of Jianghuai Lin, chairman and CEO of Taoping, said this about the news boosting TAOP stock up today. “It’s time for TAOP to embrace the opportunities in blockchain industry and digital assets, especially Bitcoin. We believe Great Bay can help us achieve this goal.” News of the deal today has shares of TAOP stock experiencing heavy trading. As of this writing, more than 13 million shares have traded. For comparison, the daily average trading volume for the stock is closer to 403,000 shares. TAOP stock was up 16.5% as of Friday afternoon. On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden's Presidency The post TAOP Stock: The Blockchain Move That Has Smart Display Play Taoping Shooting Higher appeared first on InvestorPlace.