The Mobile Streams Plc (LON: MOS) share price surged 21.7% higher after announcing that it will launch new services in India via a partnership with Vodafone India.
The company revealed that it would be offering new esports, gaming and Metaverse services via its proprietary app available on the Google play store to Vodafone’s 273 million Indian customers.
The first games will be available to Vodafone’s customers later in Q1 2022 after approval by the Google Play store. Investors cheered the news, as evidenced by the Mobile Streams share price rally.
Furthermore, the company revealed that it is in discussions with the Jio network about the potential launch of additional services in India. A deal will Jio would give Mobile Streams access to its over 420 million subscribers.
Mobile Streams stands to generate significant revenues on a deal with Jio, especially after the mobile communications company scrapped many of its low-revenue customers in Q3 2021.
Investors took note that the company’s current management has relaunched and reinvigorated its services in all critical markets after inhering a legacy business from the previous management team that was lagging behind modern trends.
The company also revealed that Nigel Burton, a Non-Executive Director, has relinquished his board seat to focus on other business commitments. However, he will remain with the company as a paid adviser.
Nigel Burton, the retiring Non-Executive Director, said: “We are very pleased to announce the launch of our new services in India. To be able to market our offering to Vodafone India’s over 273 million customers is a massive opportunity for the business. It also completes the turnaround of the legacy business we took over, and I am delighted to have been able to accomplish this. In July 2021, we strengthened the Board, with our Chairman Bob Moore bringing a wealth of legal and commercial experience to the company, and Rama Uthayanan, our Finance Director bringing UK financial experience to the company. Following a six month overlap, I am now stepping down from the Board but will still be deeply involved in the development of the company at every level.”
Bob Moore, Mobile Streams Non-Executive Chairman, said: “I’d like to thank Nigel on behalf of the company and all shareholders for leading Mobile Streams since November 2019. Since then, the balance sheet has been transformed, the company is well funded with current cash balances of £1.3m, the share price has increased by over 200%, and new revenue streams have been introduced.”
Mobile Streams shares have risen 39.25% this year and could be headed higher after the latest announcements. The company looks like a solid bet in the mobile communications industry and has the potential to rally higher, as seen on the daily chart.
*This is not investment advice. Always do your due diligence before making investment decisions.
Mobile Streams share price.
Mobile Streams share price surged 21.74% to trade at 0.56p, rising from Thursday’s closing price of 0.46p.
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