DeFi Technologies Inc (OTCMKTS:DEFTF) Stock Moves Back to $1: What to Expect Now?
The DeFi Technologies Inc (OTCMKTS:DEFTF) stock is expected to be in focus among investors this morning considering the sort of it had made last week. Last week the DeFi Technologies stock came into sharp focus among investors and ended the week with gains of as much as 40%. In light of such handsome gains, it might be a good idea for investors to take a look at the company a bit more closely.
As it happens, the company made a major announcement this morning that might have a bearing on the stock price as well. This morning the company announced that it signed a letter of intent with regards to the acquisition of the entirety of outstanding and issued securities of DeFi Yield Technologies Inc.
It is a major new development for the company and one that is expected to generate interest among investors. DeFi Yield is a privately held company and is best known for having its own automated yield engine. The engine helps people in making investments in the field of decentralized finance with far more ease and efficiency.
The company’s engine deploys some of the key strategies and protocols in the field of decentralized finance by way of which helps in maximizing yield while reducing risks to the minimum. It goes without saying that it could be a major acquisition for DeFi Technologies Inc and could make it a serious player in the fast-growing decentralized finance industry. Investors could do well to keep an eye on the stock today.