Stock Market News
Yesterday, by mid-day, the Dow Jones Industrial Average rose as a packed week kicked off, with congressional midterm elections and key inflation data on deck over the next few days. Tuesday’s midterm election will determine which party will control Congress, and affect the direction of future spending. Democrats currently control the House, and have a majority in the Senate. “The market is hopeful that some kind of Republican sweep of Congress will lead to either a sort of stalemate in Washington, which they read as good, or at least no new spending, which would be good for rates and Treasury supply,” said Brad Conger, deputy CIO at Hirtle Callaghan & Co.
One of the top gainers on Wall Street was Digital World Acquisition Corp (NASDAQ:DWAC) gaining as much as 56% by 1 pm CST. The stock surged after report suggest that Donald Trump coud announced a 2024 presentidial run this week. DWAC is the business combination partner of Trump Media and Technology group. Other notable stocks that garnered attention from Wall Street included GigaCloud Technology Inc (NASDAQ:GCT), Veru Inc (NASDAQ:VERU), Oyster Point Pharma Inc (NASDAQ: OYST) and Arqit Quantum Inc (NASDAQ:ARQQ).
One micro cap company that we would like to draw your attention to is Plandai Biotechnology Inc (OTC US:PLPL). Plandai Biotechnology, Inc., a Nevada corporation, is a publicly quoted shell company seeking to create value for its shareholders by merging with another entity with experienced management and opportunities for growth.
Plandai Biotechnology Inc (OTC US:PLPL) announced today that it has entered into an asset acquisition agreement with EV Hotel Corp. According to the PR, EV Hotel™ developed the world’s first proprietary, disruptive hospitality platform called the”smart hotel,” which combines technology, automation, IoT, crypto, and NFT with best-in-class service, stylish design, and upscale amenities to deliver a more efficient hotel operation, happier guests, and more streams of revenue. Conditions to the closing of the asset acquisition include both parties completing independent financial audits, and the Company completing corporate actions with the Secretary of State of Nevada and FINRA that will change the name and trading symbol of the Company, along with a reverse split of the Company’s common stock, which management plans at 100:1. Afterwards, the transaction will close and the Company will acquire all of the authorized stock and assets in EV Hotel™ in exchange for common stock and all of the Company’s Series “A” Preferred stock, resulting in a change of control.
“We plan on leading a revolution in the hotel marketplace via our EV Hotel™ concept,” commented Ken Patel, Chairman, and CEO of EV Hotels. “Via our transaction with Plandai, we will achieve public trading status with all the prestige and privileges of being a public company. Our Company focuses on culture and automation of the guest stay experience that is beginning to resonate with business and leisure travelers. Once completed, our newly achieved publicly traded status for our common shares will allow us to better access the public markets for growth capital and will increase our brand awareness.”
Plandai Biotechnology Inc (OTC US:PLPL) is currently trading at mere $0.0016 with a 52 week high of $0.0021 as per yahoo finance suggesting ~50% room on the upside. Time will tell if today’s news could mark the beginning of a rally on this micro cap stock. However, the news is worth taking a note especially because PR, EV Hotel™ has developed the world’s first proprietary, disruptive hospitality platform called the”smart hotel,” which combines technology, automation, IoT, crypto, and NFT with best-in-class service, stylish design, and upscale amenities to deliver a more efficient hotel operation, happier guests, and more streams of revenue. As always, conduct your own due diligence and follow traders vigilance.
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Disclaimer: InvestorBrandMedia has been compensated one thousand two hundred dollars by a 3rd party for content, research, dissemination, and syndication pertaining to PLPL for 11/08/2022 and 11/09/2022. We own zero shares of PLPL
Source: https://finance.yahoo.com/news/ev-hotel-corp-plandai-biotechnologies-050000134.html
