OLB Group (NASDAQ:OLB) stock is soaring higher following an update from the e-commerce and crypto mining company.
Let’s dive into all that news below as well as highlight other details potential OBL stockholders need to know.
- The company revealed this morning that its “merchant services annual transaction volume run rate has reached $1.35 Billion in transaction volume.”
- It says this is due to it reaching 28.5 million transactions.
- This is the highest run rate in the history of the company.
- It comes after OBL Group acquired several CBD merchant accounts in the prior quarter.
- This has it anticipating an annual revenue run rate of more than $36 million in 2022.
- It also notes that a benefit following its purchase of the CBD merchant accounts includes the addition of 150 accounts per month.
- OLB Group stock is seeing heavy trading today following the news.
- As of this writing, more than 54 million shares of the company’s stock have changed hands.
- That’s a massive increase over the company’s daily average trading volume of about 990,000 shares.
- It’s also worth noting that the company’s market cap is sitting at $27.891 million.
- These factors, as well as its low stock price, have OLB shares firmly in the penny territory.
- That means it’s more susceptible to manipulation, which investors will want to be wary of today.
OLB stock up 21.8% as of Wednesday morning.
Investors seeking out more stock market news for today are in the right place!
We’ve got all the most recent stock news that traders need for Wednesday. That includes an upcoming Alphabet (NASDAQ:GOOG,GOOGL) stock split, Matterport (NASDAQ:MTTR) price predictions, as well as what to know about MDJM (NASDAQ:MDJH) as shares soar today. You can get all of those details from the following links!
More Wednesday Stock Market News
- When Is the Google Stock Split Date? What Will Happen to GOOG and GOOGL Stocks?
- MTTR Stock Price Predictions: Can the Metaverse Really Take Matterport Up 50%?
- MDJH Stock Alert: 4 Things to Know About MDJM Ltd. as Shares Soar 40%+ Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed