On a day like today as the S&P 500 has sold off around -2% as of the middle of the session, there can still be certain companies that still find success while everything else seems to be beaten down. That’s what happened early this afternoon as shares of TPT Global Tech, Inc. (OTCQB:TPTW) announced that its subsidiary, TPT MedTech, executed its first Software as a Service (SaaS) licensing agreement with MDamerica.
TPT is a U.S.-based holding company engaged in operating Telecom, Banking Media and E-Cloud/Data businesses. It principally engages in the business of distribution of cell phones and telecommunications equipment. The revenues are generated by operating as a Competitive Local Exchange Carrier (CLEC) in Arizona and through the distribution telecommunications products.
Traders seemed to be over the moon on the news as shares traded up to an intraday high of $0.0475/share (+57.8%) following the headline. This move thrusted the share price over both the 10-day and 50-day SMA in hopes to turn the multi-month downtrend around.
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