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Getting your Trinity Audio player ready...
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The video streaming space has grown at a remarkable pace over the course of the past years and it is expected to continue to grow in the coming years. If investors look beyond the usual suspects then there are lots of potential options and one of those is Bebuzee, Inc./Engage Mobility, Inc. (OTC:ENGA).
Market Action
On Monday, ENGA stock ended flat at $0.40 with 9K shares, compared to its average volume of 17k shares. The stock moved within a range of $0.3900 – 0.4000 after opening trade at $0.39.
The company offers a streaming service and a video-sharing platform. The streaming service helps members in watching a wide range of content starting from talk shows and documentaries to movies and television shows. In essence, it is a platform that allows its customers to be abreast of the news, have an idea of world events, and also watch entertainment content in one place.
Yesterday the company was in the news after it made a major new announcement and it may be a good move for investors to take a closer look. The company announced yesterday that it had decided to integrate a payment wallet into its streaming and video-sharing Super App. It may prove to be a major move from Bebuzee considering the fact that it may help it in boosting its value in the long term. The incorporation of a Digital Wallet has been found to be a massively beneficial factor in some of the Southeastern Asia Super Apps managing to clock valuation in billions.
However, once this feature is added to the Super App, Bebuzee is going to have the first such app in the Western world. That may provide the company with a considerable competitive advantage and help it in growing considerably in the coming months. The Chief Executive Officer of the company, Joseph Onyero spoke about the upcoming launch as well. He noted that as the launch date was approaching there was considerable excitement within the company.
Traders Note
ENGA stock is trading above the 20-Day and 50-Day Moving averages of $0.37 and $0.32 respectively. However, the stock is trading below the 200-Day moving average of $0.79.
