Why SMX (Security Matters) Shares Are Skyrocketing Today
Portfolio Pulse from Akanksha Bakshi
SMX (Security Matters) PLC has increased its stake in True Gold Consortium Pty Ltd by 7.5%, bringing its total shareholding to 51.9%. The acquisition involves a waiver of around $307,000 in outstanding payables by TrueGold to SMX and grants TrueGold access to additional intellectual property from SMX. The move is expected to strengthen SMX's influence in TrueGold's R&D and revenue commercialization ventures. Following the news, SMX shares surged by 94.7%.
October 10, 2023 | 1:58 pm
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SMX's acquisition of an additional stake in TrueGold is expected to strengthen its influence in TrueGold's R&D and revenue commercialization ventures. The news has led to a significant surge in SMX's stock price.
The acquisition of an additional stake in TrueGold by SMX is a significant move that increases its influence in TrueGold's operations. This is likely to have a positive impact on SMX's future revenues and profitability, which is reflected in the sharp increase in its stock price following the announcement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100