Thanks to an incredible $3.5 billion strategic technology agreement announced yesterday, TPT Global Tech, Inc. (OTCQB:TPTW) stock is likely heading for another run up as OTC investors pile on to one of the hottest penny stocks of the moment. A technology-based company with divisions related to telecommunications, the medical field, distribution, and media syndication, TPTW is a stock on the rise – already gapping up 300% with the company’s announcement on the 25th.
TPTW Stock Catalysts
The company entered this lucrative agreement with Skybridge West Africa – a development and construction company – which was awarded $5 billion by the Ghanian government to develop 20 SMART Villages. Signing an estimated $3.5 billion strategic technology agreement on August 25th, TPTW will provide a variety of services to facilitate SWA’s project development. Due to TPTW’s comprehensive, wrap-around technology services, the company will be providing fiber infrastructure, renewable energy technology, 5G wireless cell towers, as well as medical testing and verification systems to the SMART village project.
This multi-billion dollar funding will be spread out over the life of the five year project, but CEO, Stephen Thomas III, is already looking to the future saying, “This planned project will help position the company for future international project consideration and continue to position the company for its goal of up listing to a major exchange”. Given TPTW’s exclusive joint venture agreement with UM Group of India, TPTW appears to be expanding its services globally at a rapid pace.
Agreeing to jointly see an industrial “Smart City” through from inception to completion, TPTW will construct the city to house aerospace, defense, electronic, IT, 5G, and other industries. The multi-million dollar project is receiving funding from the state, but both parties will first work to finalize the definitive agreement and SPV formation over the next 3 to 6 months. This is to ensure greater accuracy for the overall valuation of the Smart City since the joint venture formation agreement will be applicable for five years after consumation.
However, TPTW was already well positioned before these announcements due to an equity investment from a Southern California institutional investment fund in June. The entity agreed to invest up to $5 million as TPTW explores plans to uplist to the NASDAQ or NYSE. Funds generated from this investment were intended for debt reduction, completion of TPTW’s 4G +/5G network, as well as the launch of its own TV and social media platforms.
But the list of potential catalysts does not end there. TPTW’s subsidiary – TPT Med Tech – has developed a repertoire of pandemic related services such as rapid COVID testing, sanitizing services, and personal protection equipment. As Delta Variant concerns spread across the US, this subsidiary will likely experience greater demand for its products.
In light of its series of lucky breaks and extraordinary effort, many are expecting TPTW to leave the OTC markets in the dust as it heads to a major US stock exchange much sooner than previously predicted.
With this runner gaining steam, FinTwit space cadet – @SpacTraderinTra – shared some excellent advice about TPTW stock with their 48.1K followers. Traders should remember to book their profits on the way up in the runup.
TPTW stock is showing a support line at 0.0360 and a resistance line near 0.0459, with a secondary resistance near 0.0509. Yesterday, the stock was significantly overbought in the run up – reaching 96.12 RSI. After correcting, the RSI has settled at 73 indicating the stock is still overbought and will eventually correct further. However, accumulation has stayed at a high point and the MACD is still on the upside with signs of a continued increase although there is a large gap between the signal line and indicator with no sign of a crossover.
TPTW stock is definitely liable to be set off as we’ve already seen with this 300% increase. While the company is operating at a loss, it has multiple sources of funding and a secured revenue stream which will sustain its operations for the foreseeable future.
Should you Buy?
For traders who got in at a early entry point, the profits have been extreme. But there are opportunities for further increases as these catalysts play out for this penny stock exempt stock. At this time, TPTW stock – sitting at $.04 – appears to be a worthwhile investment with the potential to reach $.07 in another runup.
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