EXXE GROUP ORD (OTCMKTS:AXXA) is battling back looking to close the day up more than 42%. AXXA has been a hot name on the OTC and extremely volatile at the same time. Shareholders got another curveball last week when the CEO stepped down for personal reasons. However, AXXA once again fought against the odds and added a small amount of gains from that day onward. In fact, Friday saw them trade over 80M in shares and this week has also started with a bang.
The big reason for AXXA’s growth is the approach of the GDPR in Europe and their announcement of a product that can keep companies in compliance and handle cryptocurrency. This erupted the stock into the spotlight sending their price up considerably.
EXXE GROUP ORD (OTCMKTS:AXXA) aka Telecorp is a North American emerging technology company headquartered in New York, New York, with operations in over six countries. The company was formally incorporated on April 13, 2009 in the Province of Ontario, Canada.
Since 2016, Telecorp has shifted its business focus and strategy to pursue acquisitions in Hard Assets, Financial Services, Technology, Product/Distribution and Management Consultancy. As a part of this business transition, The Company began screening a number of potential acquisitions that would broaden services, products and talent into the Company.
Companies that will be considered for acquisition are required to have one of 3 main qualities: they must be progressive and established in the global marketplace, they are built upon innovative ideas and backed with real asset value, or they must be able to scale both quickly and profitably.
Telecorp’s planned investments are in the categories of hard assets including commercial real estate, hard asset trading and gold and silver exchanges, production and distribution with advertising, ad-tec optimization, fashion production and product, fashion analytics and sales, artist and event management, technology focused in financial technology, trade predictive software, artificial intelligence, blockchain technology and bio-technology, financial services centered in credit unions, asset management, and private and public investment interfaces, among others.
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General Data Protection Regulation or the GDPR is a EU directive going into full effect on May 25, 2018. Any financial services company in the United States that conducts business with EU residents will need to prove compliance will the EU General Data Protection Regulation. Violators can be taxed up to 4% of their yearly revenues. Thus, any company that has a physical presence in the EU or are located outside of Europe, but offer services to EU residents both online and at physical locations will need to be in compliance.
AXXA rolled out Soft Smart 2.0 as a consulting and compliance service. According to the company, the package also brings in expert compliance team reviews, and evaluates all systems and devices for unencrypted personally identifiable information (PII) of EU citizens, provide consulting on becoming GDPR compliant, assists on implementing findings to becoming GDPR compliant.
That said, there is little more available in Soft Smart other than what is in press releases, so AXXA does need to offer more transparency on the product.
EXXE GROUP ORD (OTCMKTS:AXXA) has a market cap of $5.15M and average ten-day volume over 34M. AXXA should be on your watchlist especially as GDPR approaches, but be mindful of the corporate changes that are ongoing. Sign-up for continuing coverage on shares of $AXXA 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 $AXXA, either long or short, and we have not been compensated for this article.