$CNNA name change to $LYNX and agreement to acquire DA5 News
As of April 19, $CNNA (CannaOne Technologies) will rebrand its name as Lynx Global Digital Finance and the new ticker will be $LYNX.
$LYNX is targeting the Southeast Asian fintech space (the fastest-growing fintech market in the world). The company has been expanding rapidly and the stock is reflecting that growth hitting ATHs today up 5%. The global fintech market is estimated to have a CAGR of 25% through 2022 with COVID-19 only increasing that demand and accelerating the transition from traditional payment methods to e-commerce and online payment services.
https://www.toptal.com/finance/market-research-analysts/fintech-landscape
DA5 (Direct Agent 5) is a Philippines-based forex licensed entity that has processed over $500M USD in over 1.4M transactions. Lynx is acquiring a controlling stake worth 51% of the company helping the company add to its Southeast Asia fintech network. The acquisition is expected to close on May 1st in exchange for 11.8M shares and 2M warrants in $LYNX.
https://www.streetinsider.com/dr/news.php?id=18276622&gfv=1
I’m holding my shares in $LYNX because of the strong uptrend and the continued positive news flow. The company has been performing extremely well this year and I believe that they’ll be able to continue its growth.