Cuentas Jumps 19% Following Joint Venture Agreement With WaveMax
Shares of FinTech provider Cuentas Inc. (CUEN) are up more than 19% Thursday morning on the news of its partnership with WaveMax, a WiFi-5G sharing company.
As per the joint venture agreement between the two companies, WaveMax’s SharedWiFI6 patented technology will be offering in 1,000 Cuentas “Bodegas” network throughout the country.
This Rollout will begin in the greater New York City Metropolitan Area with 500 Locations in NYC, 330 locations in New Jersey and 170 locations in Connecticut.
The companies will install advanced WiFi6 Access Points and Small Cells in these 1,000 “Bodega Stores” in a 50/50 joint venture, to offer all Cuentas products and services on secure networks.
CUEN, currently at $4.27, has been trading in the range of $2.04- $13.05 in the last one year.
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