Taoping Inc’s (NASDAQ: TAOP) stock price is rallying premarket after the company entered into a letter of intent with Zhenjiang Taoping IoT Technology Limited shareholders to acquire no less than 51% of the firm.
Zhenjiang Taoping is a new media platform in Zhenjiang, reaching average daily viewership traffic of more than 250,000.
“After the closing of the acquisition, Zhenjiang Taoping is expected to become an important part of Taoping Digital Culture East China Operation Center to expand digital businesses in cloud application services and new media in East China,” stated Taoping.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Once all of the due diligence is completed, the purchase price, which was not disclosed, will be paid in the form of ordinary shares of TAOP. However, the LOI will be terminated if no agreements are entered into before December 31.
“We believe this transaction would bring value for our shareholders and optimize TAOP’s business structure,” stated Jianghuai Lin, Chairman and CEO of TAOP.
Taoping’s share price is up at $3.70 premarket, rising 19.74% from Tuesday’s close.
Should You Invest in Taoping Shares?
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It’s a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
