Canadian Micro Cap Accepted Into TELUS IoT Marketplace – Shares Pop

For a little bit of background on TELUS, it launched its IoT Marketplace to help Canadian businesses accelerate the adoption of Internet of Things (IoT) tech. The marketplace is designed to allow businesses to deploy IoT solutions in rapid time while acting as a lead generation and sales channel for developers.

Loop Insights Inc. (TSX-V:MTRX) is a provider of contactless solutions and artificial intelligence (AI) to drive real-time insights, enhanced customer engagement and automated contact tracing to the brick and mortar space. The company announced today that it has been accepted into the TELUS IoT Marketplace, which should serve to significantly expand Loop’s sales distribution channels on a national scale.

Traders seemed to be excited to hear the news as they snatched up shares up to $.38/share (+18.75%) in early trade. This move is hoping to end a month-long downtrend that the stock has been experiencing.