HeartCore Enterprises (NASDAQ:HTCR) stock is rocketing higher on Wednesday after the consulting company signed an agreement with rYojbaba.
This contract has HeartCore Enterprises agreeing to act as a consultant for rYojbaba. Specifically, the company will be assisting rYojbaba with its plans for an initial public offering (IPO). It will do so with its Go IPO software.
The services offered through Go IPO include helping hire audit and legal teams, as well as translating documents, and assisting in documentation preparation. HeartCore Enterprises expects to receive $500,000 in initial fees from this contract. It also gets a warrant for 3% of rYojbaba’s stock.
Sumitaka Yamamoto, CEO of HeartCore Enterprises, said the following about the news:
“We are encouraged by our 10th Go IPO win and by the warrants we’ve recently received from our prior Go IPO clients, which adds up to nearly $4.5 million. Given the progress being made throughout all fronts of our organization, in addition to all of our existing clients within the Go IPO pipeline primed to go public by the end of this year, we believe we’re poised for a robust 2023.”
How This Affects HTCR Stock Today
After announcing the contract, HTCR stock took off alongside heavy pre-market trading. As of this writing, more than 3.6 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 111,000 shares.
HTCR stock is up 140.9% as of Wednesday morning.
Investors seeking more of the latest stock market news are in the right place!
InvestorPlace is home to all of the hottest stock market coverage traders need to know about on Wednesday! That includes the biggest pre-market stock movers today, as well as the latest on ContextLogic (NASDAQ:WISH) stock, and more. You can read up on all of that news at the following links!
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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.
