Pareteum Corp (NYSEAMERICAN: TEUM) is having a strong start to the trading session in the pre-market hours this morning, and for good reason. In a press release, the company announced that it has entered into a partnership that could drive some serious revenue. Of course, this led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from TEUM, and what we’ll be watching for ahead.
TEUM Gains On Partnership News
As mentioned above, Pareteum Corporation is having a strong start to the trading session after announcing that it has entered into a partnership. In a press release, issued early this morning, the company announced that it has partnered with GameTrove’s Good World Games. Under the terms of the agreement, TEUM will add their mobile-first platform promoting the discovery of HTML5 games worldwide to its TEUM Application Exchange Developers Platform.
This news marks the next action in an important step in providing additional value to TEUM customers. Essentially, GameTrove subscribers pay monthly or weekly fees. Ultimately, when fully integrated, the Pareteum platform will allow for direct billing of the gaming services to existing bills on GameTrove. At the end of the day, this will unlock revenue as TEUM will be paid a portion of the revenue stream in exchange for its integration and large channel to mobile subscribers.
In a statement, Vic Bozzo, CEO at TEUM, had the following to offer:
As we acquire more connections and also forge further into new geographies, it’s incumbent upon us to help our marketing companies, service providers and aggregators to gain access to new features and services directly.
The above statement was followed up by Hal Turner, Executive Chairman and Principal Executive Officer at Pareteum. Here’s what he had to offer:
Bringing applications from developers directly to the market is a vital next step in the evolution of the mobile market and our customers, and we have found a tremendous response to our TEAX developer exchange platform from partners who see value in our channel to the market.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news released by Pareteum proved to be overwhelmingly positive. After all, this partnership will open the door to a new revenue stream. So, it’s no surprise to see that the stock is moving upward today. Currently (8:32), TEUM is trading at $1.98 per share after a gain of $0.04 per share or 2.06% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TEUM. In particular, we’re interested in following the story surrounding this new partnership as well as the growth of the company in other areas. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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