Sino United (OTCMKTS:SUIC) stock is rising higher on Thursday after announcing a collaboration deal with Oracle Taiwan.
This news has resulted in increasing interest in SUIC stock from investors. That, in turn, is leading to heavy trading today. As of this writing, some 63,000 shares have changed hands. That’s above the company’s daily average trading volume of roughly 47,000 shares.
Keeping that in mind, let’s take a look at what potential investors in SUIC stock need to know about the company and its recent deal.
- Sino United is a financial tech company based out of China.
- It has a focus on investing in the Internet of Things, blockchain, artificial intelligence, and more.
- This has it investing in multiple different companies that meet its requirements.
- Among them are iDrink Technology, Midas Touch Technology, Sinoway International, and United Wellness.
- The collaboration with Oracle Taiwan will have them working together to develop “Advanced Solutions for Global Supply Chain Finance, Fintech and DeFi Smart Contract Solutions.”
- The goal of these is to “support the full lifecycle of supply chain, providing revolutionary solutions to correct the disruption in global supply chain during this pandemic period and beyond.”
- According to Sino United, DeFi Smart Contract Solutions are set to make major changes to the financial world.
- It wants to be a part of those changes, which is why it’s working alongside Oracle Taiwan in this effort.
Joa Chen Gu-Feng, a Sino United director, said this about the deal boosting SUIC stock today.
“SUIC and SoundNet Technology are at the forefront of this transformative era, embracing rapid changes in the business world as we launch our latest DeFi and Smart Contract solutions and digital services that will minimize the risk of arbitrary intervention in the Global Supply Chain Finance.”
SUIC stock was up 12.6% as of Thursday morning and is up 603.1% since the start of the year.
Sino United isn’t the only stock catching the eye of investors today.
The stock market is busy today with many companies seeing major movements. A few examples include Skillz (NYSE:SKLZ), Nikola (NASDAQ:NKLA), and Churchill Capital (NYSE:CCIV). Investors can learn more about these stocks at the links below.
More Thursday Stocks News
- SKLZ Stock: Cathie Wood Bets on Skillz Stock, Should You?
- NKLA Stock: The Hydrogen-Fueling Stations News Charging Up Nikola Today
- CCIV Stock: Is a Middle East Connection Boosting Churchill Capital Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
