Victory Square Technologies (CNSX:VST) is a prominent technology stock on the Canadian Securities Exchange. After all, we’re talking about a blockchain-focused venture builder that has made significant waves in various industries. In fact, investors around the globe can see the role Victory Square’s portfolio companies have played in disrupting sectors like Artificial Intelligence, Gaming and Film, and Virtual Reality.
Victory Square Technologies: What’s Been Going On?
Over the course of the past two months, Victory Square Technologies has been on a roll when it comes to announcements. It’s not just that the company is pumping out announcements, either. The majority of them have been extremely positive. From announcing on January 25 that it invested in three promising blockchain companies at this years North American Bitcoin Conference, to disclosing that it has moved into a definitive agreement to acquire more than 20% of Cassia Research Inc. This, a blockchain-focused Fintech company.
The latest announcement to come from the Vancouver-based company came a mere two days ago. Victory Square Technologies disclosed to investors that it has signed yet another definitive agreement, this time acquiring 31.35% of PayVida Solutions, Inc. For those who don’t know, PayVida Solutions is a payment processing company driven primarily by innovation. According to CEO Robert Ronning, PayVida had a number of offers but felt entering into an agreement with Victory Square made the most sense for both companies. Ronning also said that this partnership will help to shape PayVida’s future.
As one might have guessed, this is pretty significant news. Not only will Victory Square benefit, but PayVida will as well. Why? Because it will help the company, who is also based in Vancouver, further its goal of advancing the payment processing industry in Canada.
The Takeaway
Considering Victory Square announced the latest definitive agreement two days ago, I would have thought Friday’s trading session would have had a different outcome. Why? Because it’s big news, and the company should be seeing green, but it’s not. As of this writing, on February 9, Victory Square is trading at $2.50, which puts the VST stock down $0.20, or 7.41%. The company currently has a market capitalization of 155.96 million.
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