Professional Diversity Network (NASDAQ:IPDN) is seeing shares of IPDN stock take off on Wednesday after announcing a partnership with Phala Network.
Here’s what investors need to know about the Professional Diversity Network news.
- Professional Diversity Network is working alongside Phala Network to build up the company’s diversity.
- Phala Network’s main focus is on blockchain technology with the creation of a Privacy Cloud Platform.
- The goal is to grant users of blockchain more control over their personal information.
- Professional Diversity Network has it offering its services to the company.
- IPDN’s serves include offering “networking, training, educational and employment opportunities for diverse individuals.”
- The company says its services offering “employer clients a means to identify and acquire diverse talent and assist them with their efforts to recruit diverse employees.”
- Professional Diversity Network also notes that this has it developing business recruiting and networking for “women, minorities, veterans, LGBT and disabled persons” around the world.
Adam He, CEO of Professional Diversity Network, said this about the news.
“We are excited to partner with Phala Network to explore potential integration of substrate-based, confidential smart contract blockchain technology into our PDN network, which could potentially enhance our delivery rate and protect network users’ and clients’ privacy from data-mining.”
IPDN is experiencing heavy trading of its stock today following the news. As of this writing, more than 81 million shares have changed hands. For comparison, its daily average trading volume is only about 741,000 shares.
IPDN stock was up 174.4% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.