SMC Entertainment Inc (OTCMKTS:SMCE) Stock Soars After Acquisition of AI-enabled Wealth Management Technology Platform
A stock that is expected to be on the radars of investors this morning is that of SMC Entertainment Inc (OTCMKTS:SMCE) which had made a big move yesterday and ended up with gains of as much as 108%. It is an incubation company which is involved with the acquisition and development of fintech companies.
On Wednesday, SMCE stock surged 108.70% to $0.0024 with 266.18 million shares, compared to volume of 7.88 million shares. The stock moved within a range of $0.0023 – 0.0046 after opening trade at $0.0032.
SMC Signs Letter of Intent to Acquire AI-enabled Wealth Management Technology Platform
Yesterday, the company came into focus after it announced that it had been successful in completing the 100% acquisition of the firm Fyniti Global Equities EBT Inc. The acquisition had been completed by the company entirely in equity. The news of the acquisition came as a source of considerable excitement for investors and that possibly led to the rally that was seen in the stock yesterday.
Fyniti is a highly innovative financial technology company and provides a range of services which combine artificial intelligence, machine learning and driven quantitative investing among others. In addition to that the company also provides artificial intelligence powered Electronic Block Trading technology.
The company is intent on providing such services which were not available to retail investors in the past and that is something that could lead to the democratizing of the investment landscape in a big way.