IDGlobal Corp (OTCMKTS:IDGC) was in focus among investors yesterday after the company made a key announcement and the stock rallied accordingly as well. The company announced yesterday that from August 13, 2021, it will start uploading its financial documents onto the OTC Markets Platform. However, that was not the only announcement from IDGlobal yesterday.
The company also made a major announcement with regards to the fact that its fully owned subsidiary company Azure Blockchain launched a procurement service by way of which Hosting Services, as well as Cryptocurrency Mining Equipment, are going to be placed with its partners. The partners are going to pay a participation fee for the services. It goes without saying that both these announcements were significant developments for IDGlobal and hence, it was no surprise that the stock ended the day with gains of as much as 27%.
In the press release from IDGlobal, the company noted that it has laid the groundwork for the future and apologized for having been late in making the actual announcement. However, IDGlobal was quick to add that at this point the company is involved in the development of private as well as public blockchain and was also working on the work of monitoring cryptocurrencies that are specific to certain companies.
The company believes that the delay in making the announcement was worth the wait since IDGlobal foresees a very ‘exciting future. In light of these developments and the rally in the stock investors could do well to keep the stock in their sights.