iQSTEL Inc (OTCMKTS:IQST) has been a big winner for investors in recent weeks. Investors who put their money in the stock at the start of the year have already seen a return of 750% on their investment. The gain has come on huge volume too. Just a few hundred shares of iQSTEL had been exchanging hands in the past months. But in recent weeks the volumes have shot up sharply, topping 7.2 million shares in the last session. The huge trading volume confirms the growing investor interest in iQSTEL stock.
Investors are showing renewed interest in iQSTEL stock at a time when the company has begun reporting record sales and as the management discusses upgrading listing of the company’s stock to a major exchange. iQSTEL reported record-breaking annual sales of $16.3 million at its Etelix business in 20019. Moreover, iQSTEL’s subsidiary Swisslink made big sales topping $5.6 million in 2019.
Amid the rapid growth in sales, OTCMKTS:IQST has started discussions about upgrading its stock listing. The company is looking to list its stock on a major exchange like NASDAQ or NYSE. On February 20, iQSTEL announced that it has received an invitation for an exclusive interview at the NASDAQ Marketsite in Times Square, New York. The interview is scheduled for March 25. CEO Iglesias will represent the company in the interview where he will discuss the company’s record revenues, acquisitions and 2020 earnings projections. Listing on major exchange would bring more exposure to iQSTEL stock.
About iQSTEL Inc (OTCMKTS:IQST)
OTCMKTS:IQST is an American technology company serving the global telecommunications industry. It provides international long-distance telecommunications solutions, satellite communications services, mobile virtual network operator services, blockchain solutions and many more. iQSTEL operates several subsidiary businesses.
iQSTEL has taken important steps toward growing the business and creating more value for shareholders. Here are some of the recent developments at the company that have excited investors and promise to propel the stock to greater highs.
iQSTEL enters $1.4 billion blockchain telecom market
OTCMKTS:IQST has acquired itsBchain, a blockchain solutions startup. itsBchain is currently undertaking two important blockchain projects. One of them is blockchain payment solution for companies in telecom wholesale business. The other is blockchain mobile number portability solution.
The acquisition of itsBchain gives iQSTEL a foothold in the lucrative telecom blockchain market. The market is expanding at an average rate of 78% and is on track to reach $1.4 billion in annual revenue.
Additionally, iQSTEL has acquired SMS technology that it has used to set up a new subsidiary operation called QGlobal SMS. Through QGlobal SMS, iQSTEL will provide SMS solution to business clients worldwide, thereby taking advantage of the growing demand for SMS services such as two-factor authentication in digital services.
Notably, iQSTEL’s acquisition strategy has been very successful. For instance, the company recently celebrated a milestone of more than $5.6 million in first year revenue at its Swisslink subsidiary. With the contribution from Swisslink, iQSTEL last month recorded record January revenue of $1.8 million.
iQSTEL taps 5G expert Jose Antonio Abdo as board advisor
As a telecom technology provider, iQSTEL is seeking a front row seat in the 5G world. That is why the company has tapped 5G infrastructure expert Jose Antonio Abdo as an advisor to its board of directors. Abdo boasts many years of experience in telecom infrastructure development, having worked for industry giants such as AT&T Inc. (NYSE:T) and Global Crossing.
The skillset and experience that Abdo brings will be valuable to iQSTEL as it pursues opportunities in the 5G world. The global 5G infrastructure market is on track to hit $22.9 billion in 2025 from roughly $560 million in 2016.
iQSTEL’s main vehicle in the pursuit of 5G business opportunities is Etelix, which delivered record-breaking revenue of $16.3 million in 2019.
“The joining of Jose Antonio Abdo as an advisor to the board is a pivotal point for the company’s [iQSTEL] organic growth and acquisition strategy in the 5G infrastructure space, particularly in Latin America,” commented Iglesias, CEO of iQSTEL.
Finally, iQSTEL is shaping to be the gift that keeps giving. While the stock has already soared this year, there is more to come. With the recent acquisitions, iQSTEL is firmly on track to continue reporting record revenues. Additionally, the planned listing on a major exchange should increase the stock’s exposure and draw more investors, thereby boosting demand and lifting the stock price.
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Disclosure: We have no position in OTCMKTS:IQST and have not been compensated for this article.