Thanks to a change in business direction, shares of a camera company rose 3,000%

Thanks to a change in business direction, shares of a camera company rose 3,000%

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2021-07-16 05:45:17

(CHK) Having been in the camera business for many years, but the stock price has not changed, this company changed its business direction to blockchain technology and ended unexpectedly.

After announcing its rebranding and transition to blockchain, camera company Life Clips stock has surged over the past two days. Specifically, at the end of yesterday, the company’s over-the-counter stock price rose to $0.0569, nearly 3,061% higher than the closing price two days earlier.

On July 14, camera company Life Clips said it has agreed to acquire Belfris Group, a blockchain technology company that operates cryptocurrency exchanges on its platform and operates in Malaysia and Singapore. , India, Kenya, Tanzania, Nigeria and Bahrain.

The stock market has been volatile over the past few days.

That single news was enough to send Life Clips’ stock price exploding, with 2,894,175,888 shares changing hands, a huge number from the previous average volume of 92,544,385.

According to a representative of Belfris Group, the company is valued at $ 400 million and is ambitious for a valuation of $ 10 billion by 2023.

After announcing a change in business, Life Clips also created a new website describing the company as a distributor of disposable batteries and wireless rechargeable batteries for mobile phones. Life Clips says it is also the parent company of Cognitive Apps Softwave Solutions, an AI-powered mental health analytics platform.

A product of the company Life Clips.

Thereby, it can be seen that the attraction of cryptocurrencies and crypto-related brands is still something crazy. It can completely change the face of a company. Life Clips was founded in 2013 and previously only developed small-sized cameras specializing in action scenes, and also provided single-use batteries for mobile devices.


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