TPT Global Tech Inc (OTCMKTS:TPTW) stock has been making big moves in recent days. The stock soared 200% last Friday and followed it up with a 33% gain yesterday, a sign of renewed investor interest in the stock after it fell to new year low of $0.0013.
Investors have been taking profit from TPT Global Tech after the stock hit $0.140 high. The profit-taking sales explain why the stock has dropped to the recent low. But investors have started taking positions in TPT Global Tech and the stock looks poised for another round of bull run and any pullback presents a buying opportunity.
Below we look at the factors behind the renewed investor interest in TPT Global Tech. But before we get into the details, here’s a brief profile of OTCMKTS:TPTW.
Based in San Diego, California, OTCMKTS:TPTW operates in the telecom and technology space. It serves both business and consumer markets. It continues to expand and diversify its operations as new opportunities emerge.
The renewed interest in TPT Global Tech stock can be credited to the steps the management has taken to enhance shareholder value. Here is a look at some of those steps.
OTCMKTS:TPTW moves into government contracting space
OTCMKTS:TPTW last month launched a special division called TPT Federal that will focus on pursuing government contracts in telecom and technology sector. Initially, the division will focus on pursuing domestic government contracts in the United States.
There is big money in government contracting space and the launch of TPT Federal looks perfectly timed as it comes when state and federal governments in the United States are pouring increasing amounts of money into telecom and technology projects. For instance, the Trump administration secured Congress approval to spend $92 billion in IT in 2020. The administration has now proposed to boost IT spending to $92.2 billion in 2021. State and local governments spent $108 billion on IT in 2019 and the sum is expected to go up this year.
Upon the launch of TPT Federal, TPT Global Tech has begun building relationship with existing US government contractors. Additionally, the division is courting government contractors in Latin America and Europe.
“Along with our Domestic and International relationships we believe TPT Federal will be a great addition to TPT Global Tech core businesses,” commented TPT Global CEO Stephen Thomas.
TPT Global Tech ties up with Setelia to accelerate America 5G rollout and boost international sales
TPT Global Tech is working with French company Setelia on multiple programs that all seek to bolster its growth and subsequently enhance shareholder value. In one case, TPT Global Tech is collaborating with Setelia to help accelerate its 5G rollout program in rural America. Last month, TPT Global Tech announced a successful 5G deployment in Michigan with the support of Setelia. After Michigan, TPT Global Tech now looks to take 5G to all its footprint in rural America, which includes South Dakota, Iowa, Arizona, Nebraska, Texas, Idaho, Illinois, Montana and Minnesota.
Besides 5G rollout in rural America, TPT Global Tech has also tapped Setelia to help it reach more international customers. Setelia will market TPT Global Tech’s 3D smartphone technology and other solutions to its clients across Europe, the Middle East and Africa. Setelia’s clients include Orange, the French multinational telecom operator with over 250 million subscribers around the world.
“The strategic decision to partner with Setelia we believe will have a positive direct effect on our [TPT Global Tech] financial statement,” commented TPT Global Tech CEO Stephen Thomas.
OTCMKTS:TPTW making strategic acquisitions to boost growth
TPT Global Tech has recently closed several strategic acquisitions aimed at expanding the business and boost revenue.
The company acquired SpeedConnect, a leading wireless provider that serves about a dozen rural American states. It also acquired Blue Collar, a video production company based in Los Angeles that has produced several hit documentaries and shows. TPT Global Tech counts on the acquisition of Blue Collar to expand its media business as it pursues opportunities in video streaming market.
TPT Global Tech making big sales
TPT Global Tech’s expansion drive supported by strategic partnerships and acquisitions has started bearing fruits. The company reported revenue of $3.6 million in the third quarter of 2019, representing blockbuster growth of nearly 1,200% year-over-year.
Besides robust sales, TPT Global Tech also stands on solid financial grounds. The company has $17 million in assets and just $4.0 million in long-term debt.
Through strategic partnerships and investments, OTCMKTS:TPTW has taken important steps to position itself to take full advantage of the growth opportunities around it and enhance shareholder value. But that is not all. The company is also keen to list its stock on a major exchange like the NASDAQ or NYSE, which should work favorable for its shareholders.
It is the dream of every company out there to list its stock on a big exchange as that increases exposure to large investors, boost investor confidence, and makes equity fundraising easier. Therefore, TPT Global Tech upgrading its stock listing to a major exchange would go a long way to enhancing value for shareholders.
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Disclosure: We have no position in OTCMKTS:TPTW and have not been compensated for this article.