Thursday, July 7, 2022

Net Element International Inc (NASDAQ:NETE) Erupts in Wake of Announcement

Net Element International Inc (NASDAQ:NETE) has been relatively dormant for some time until it erupted upward yesterday. NETE took a 25% jump up the charts going from .27 to as high as .66 throughout the course of the trading day. Today, NETE has continued to hold gains and it all stems from the payment services company now processing payments without a fee. The news broke last week but with Hurricane Irma barreling down, its seems like its content is just starting to catch on.
Unified Payments, NETE’s subsidiary, has launched a Zero-Fee processing program for small and medium-sized businesses in the United States through its exclusive Zero Pay program. The program is the first and only cash discount program available on mobile point-of-sale.
Net Element International Inc (NASDAQ:NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant and retail point-of-sale solution Aptito. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Net Element was named in 2016 by South Florida Business Journal as one of the fastest growing technology companies.
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“Now merchants have the freedom to control their processing costs in a way not traditionally available over other popular mobile POS products and solutions,” commented Vlad Sadovskiy, President of Integrated Payments for Net Element. “Accepting payments with a mobile device has become the new norm for SMBs.”
This recent move is playing well. The company has been scuffling and has been trending downward most of this year. Yet, here are some quotes from the company’s last financial update that show the positive slant to NETE’s recent track. They come from CEO Oleg Firer:
 “For three-months ended June 30, 2017, our net revenues increased 18% to $16.1 million, as compared to $13.7 million in the prior year. The $2.4 million increase in net revenues is primarily due to organic growth in our North America Transaction Solutions segment, which demonstrated net revenues increase of 31% as compared to the prior year. North America Transaction Solutions segment continued the organic growth of SMB merchants in the segment with emphasis on value-added offerings.
Revenues for the segment continued to lead the growth for second quarter. Revenues for the second — for this segment were $13.9 million, a 31% increase over the prior year. Online Solutions segment continued organic growth in global online payment acceptance services with emphasis on value-added offerings. Revenues for this segment for the second quarter were $2 million, a 33% increase over the prior year.
Net Element International Inc (NASDAQ:NETE) has a market cap of $11.04M with 19M shares out. The company is looking to make hay while the sun shines right now and ride the recent announcement back into positive territory. This stock was recently worth more than a dollar, so there is definitely room to grow here. Traders need to be watching this stock carefully. Sign-up for continuing coverage on shares of $NETE stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $NETE, either long or short, and we have not been compensated for this article.

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