Shares of Vancouver-based tech Company
Loop Insights Inc. (TSX-V: MTRX, OTCQB RACMF, Forum) spiked more than 50% after it announced its intent this week to uplist its shares to the Toronto Stock Exchange and Nasdaq, followed by a 60% jump on Tuesday.
The Company believes that a Nasdaq listing application would be better served coming from a TSX listed company, as opposed to a direct application from the TSX Venture Exchange.
Upon laying out this uplist plan to attract new investors, the Company’s Chief Executive Officer, Rob Anson stated - “As a result of our immutable relevancy, high demand for Loop’s products, pipeline growth, and ability to easily scale into a global marketplace that is in full press digital transformation, we expect a continued accelerated pace that now warrants an uplist and dual list strategy that will attract institutional investors commensurate with our anticipated profile in 2021 and far beyond.”
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A provider of contactless solutions and artificial intelligence (AI) to drive real-time insights, enhanced customer engagement and automated venue tracing to the brick and mortar space, MTRX recently launched
its second product into the
Telus (T:TSX) Internet of Things (IoT) Marketplace, which is projected will serve to significantly expand Loop's sales distribution channels on a national scale.
FULL DISCLOSURE: Loop Insights Inc. is a client of Stockhouse Publishing.