Shares of Glance Technologies Inc. (CSE:GET) were up 8.28% in late morning trading on November 20th. The stock has climbed 123% month-over-month as a foray into cryptocurrency technology has paid off huge.
We previously discussed Glance Technologies on October 5th after the company announced it was partnering with Netcoins, Inc. to enable Bitcoin payments. At the time Bitcoin had roared back after a correction following comments from JP Morgan Chase & Co. CEO Jamie Dimon criticizing its long-term viability. Since October 5th Bitcoin has almost doubled in value, crossing above the $8000 threshold just last week.
On October 24th Glance Technologies announced that it was exploring the creation of rewards-based cryptocurrency on its mobile application. Glance wants to expand its pay app so that users can exchange cryptocurrencies through a broad range of vendors. On November 2nd Glance announced it would offer anti-fraud technology for cryptocurrencies, which continues to be a concern for new adopters.
The Glance Pay app is currently available on iOS and will be debuting on Android in the near future. Glance Technologies stock has climbed 623% in 2017 and 750% year over year.
The recent success of Glance works to dispel an oft-repeated criticism of cryptocurrencies like Bitcoin, in that it functions currently as an alternative to precious metals. In fact, the advantages of the decentralized network and the flexibility that micro-transactions will be able to provide users is one of the top selling points.
The Bitcoin rally shows no signs of slowing down as we head into 2018. Glance Technologies gives investors the opportunity to bet on the technology that will facilitate the exchange of this rising alternative.
Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Baystreet.ca assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Baystreet.ca has been compensated thirty thousand dollars from the company for Glance Technologies advertising and Baystreet.ca also holds shares in Glance Technologies. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
