Plandai Biotechnology Inc (OTCMKTS:PLPL) Stock Rockets After The Big News
If there is one stock that is almost certainly going to be in focus today, then it is the Plandai Biotechnology Inc (OTCMKTS:PLPL) stock, which managed to clock gains of a staggering 125% on Thursday.
Market Stats
On Thursday, PLPL stock soared 125% to $0.0009 with 577.37 million shares, compared to its average volume of 84.29 million shares. The stock moved within a range of $0.0006 – 0.0009 after opening trading at $0.0007.
Plandai Biotechnologies, Inc. Announces Entry into Non-Binding Letter of Intent, Updates on Status of Independent Audit
The company came in focus yesterday after it announced that it had inked a non-binding letter of intent with the company EV Hotel Corp, a corporation registered in Georgia. In this regard, it may be a good idea to first get a better idea of EV Hotel Corp as a business. The company is credited for having built the first proprietary hotel platform in the world known as ‘the smart hotel’.
The platform is a combination of technology, NFTs, automation, crypto, and the Internet of Things. It is meant to deliver a better experience to guests and at the same time make operations more efficient and boost revenue streams.
Plandai had been looking for such a merger for quite a while and Ted Malilander, the Chief Executive Officer of the company noted that the company had been working ‘tirelessly’ for spotting a suitable candidate. The aim of the merger is to generate value for the company’s shareholders.
Key Quote
Plandai’s CEO, Tad Mailander, concurred, stating “we have worked tirelessly to locate a suitable merger candidate for Plandai to return value to its shareholders. With our sights now focused on completing our due diligence work with EV Hotel™, I am confident that we will finalize a transaction worthy of the commitment and confidence our shareholders have placed in the whole Plandai team.”
Traders Corner
PLPL stock is trading above the 20-Day and 50-Day Moving averages of $0.0006 and $0.0005 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0004.
