Orbsat shares jump; announced deal with Alibaba

Nextplat

13/07/2021 15:23

** Shares in Orbsat Corp  OSAT.O  were up 79.3% at $11.96 in
early trading on Tuesday; the company, which has been a focus on
social media, announced an agreement with Alibaba.com 
    ** As a gold supplier on Alibaba.com, owned by Alibaba
Group, which trades as  BABA.K  on NYSE, Orbsate says it will
launch a storefront in Q3 with a range of satellite IoT and
connectivity products  urn:newsml:reuters.com:*:nACST3Fjja
    ** Orbsat's move on Tuesday follows a spate of volatility in
the stock, which including a 54% jump on July 6 when trading
volume also spiked above 87 mln shares
    ** On Tuesday more than 35 mln shares had already changed
hands less than 10 minutes into the regular session when the
stock was halted for volatility

 (Reporting By Sinéad Carew and Sruthi Shankar)
 ((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net))