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CLPS Incorporation’s Shares After Signing Deal With US Digital Payment Platform

Sam Boughedda trader
Updated 19 Mar 2021

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CLPS Incorporation’s stock price has rocketed on Wednesday after the company announced that through its wholly-owned subsidiary, CLPS Technology Inc, it has signed a vendor agreement with a well-known US digital payment platform to provide IT services.

CLPS will offer the company data analysis and payment and risk management for their international business.

The Hong Kong-based firm said that they are looking to grow beyond the Mainland China market, and have been extending their presence and client-base internationally, adding blue-chip financial institutions to their clientele as the demand for IT services grows.

“We are extremely honored that for more than six years of cooperation, the Client has awarded us with a global contract. This also aligns with our global strategy by leveraging our expertise in the financial industry with globally competitive IT services to achieve and exceed exceptional client satisfaction,” said Matthew Tang, CEO of CLPS US and HK.

The company's shares rocketed over 200% reaching highs of $19.71 earlier in Wednesday’s session. They are currently trading at $14.21 up 190%.

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.