CUEN CEO Unveils Shareholder Letter Highlighting Advances In Acquisitions, Real Estate, And Cutting-Edge Construction Technology, Alongside An Anticipated Shareholder Meeting
Portfolio Pulse from Benzinga Newsdesk
Cuentas, Inc. CEO Arik Maimon released a shareholder letter detailing the company's progress in acquisitions, real estate, and construction technology. CUEN is pivoting to real estate, fintech, and cybersecurity markets, with an imminent acquisition of WHEN Group, a move into the $215 billion global security market. The acquisition is pending Nasdaq and shareholder approval. CUEN is also expanding in mobile telecommunications, expecting $4 million in annual revenue from an initial order of 5,000 SIM cards. The company introduced 'Cuentas 360' with advanced security features and announced a partnership for mobile gaming and tokenized rewards in its fintech app. In real estate, CUEN partnered with RENCO on the Lakewood Village project and holds a 63% equity stake in a Tampa property project. Sales have increased to $1 million, a 861% quarter-over-quarter increase, with a 200% growth in cash and accounts receivable. A shareholder meeting is scheduled for December 20, 2023.
November 30, 2023 | 1:32 pm
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POSITIVE IMPACT
Cuentas, Inc. is making significant advances in acquisitions, particularly with the imminent acquisition of WHEN Group, which is expected to add value to the company and position it in the global cybersecurity market. The company is also expanding its mobile telecommunications offerings and has introduced new features in its fintech app. The substantial increase in sales and the upcoming shareholder meeting could positively impact investor sentiment.
The news of the WHEN Group acquisition and the expansion in mobile telecommunications, coupled with the significant increase in sales, suggests a positive short-term impact on CUEN's stock price. The anticipation of the shareholder meeting and the strategic positioning in the cybersecurity market could further boost investor confidence and stock value.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100