A small cap that is no stranger to making headlines just confirmed an ongoing merger and acquisition (M&A) campaign. Shares of iQSTEL Inc. (OTCPK:IQST) soared following the companies further confirmation that the current $60.5-million revenue forecast for 2021 does not include any contribution from potential acquisitions.
iQSTEL Inc. is a technology company offering a wide array of services to the telecom and Internet industry. along with its subsidiary the firm offers international long-distance voice services for Tier-1 worldwide telco carriers (ILD Wholesale) and submarine fiber optic network capacity for data carriers and internet service providers both land-based and mobile (4G and 5G).
Investors can breathe a little easier as shares traded up to an early session high of $0.899/share (+23.57%) following the news. This move comes one day after the stock closed under its 50-day SMA for the first time in months.