PowerBand Makes Waves

In the consumer discretionary field, things are brightening up, much as markets and individual outlooks are. With large-cap indexes moving again skyward, it’s cheering to know one firm is benefiting from the good vibes.

Indeed, the discretionary sector in New York is ahead 2.1%; in Toronto, the sector picked up 0.9%, though none fell into the parameters required by this site.

PowerBand Solutions Inc. (OTC:PWWBF) made news Monday by announcing its U.S. leasing division, MUSA Auto Finance, LLC, has obtained lease financing from a federally chartered U.S. depository financial institution to begin leasing vehicles to U.S. consumers.

Lease originations will begin today.

"This is the right solution at the right time, when the automotive industry and consumers are looking for innovations to overcome the challenges of the COVID-19 pandemic," said PowerBand CEO Kelly Jennings.

"Consumers and dealers will be able to buy, lease and finance their vehicles on PowerBand, as easily as they purchase a product on Amazon. Our strategy is to aggregate further funding facilities in the weeks and months ahead, to offer multi-billion-dollar financing opportunities to consumers and dealers using our platform in the United States and Canada.

PowerBand shares popped 4.8 cents, or 26.2%, to 23 cents, on volume of 122,000 shares.