What is going on with HLLPF?
Hello Pal International (HLLPF) stock surged higher today after the company, a provider of international live-streaming, social-crypto and language learning mobile apps, announced they had acquired a fifty-one percent (51%) stake in Crypto Pal Technology. The $3.5 million transaction closed on May 25, 2021. Shares of HLLPF increased 5.4% to $1.05 as of Thursday at 11:20am.
What does this mean for Hello Pal International?
Hello Pal's acquisition is significant as Crypto Pal will now become the first listed company primarily focused on mining Dogecoin. For many, Dogecoin is seen as a strong alternative to Bitcoin given its lower price, its ease for making online payments, and low power requirements needed to mine it, despite having been started as a joke.
Hello Pal Founder and Chief Executive Officer, KL Wong states, "Our acquisition of Crypto Pal is the next step in bringing the world closer together and promoting social tolerance. Dogecoin, often referred to as "the people's coin", is being rapidly accepted and adopted internationally. We anticipate gains to our userbase and livestreaming services from the integration of Dogecoin."
Currently, Crypto Pal has 12,500 mining rigs that are actively mining Dogecoin and Litecoin. The mining rigs are hosted across multiple locations to ensure diversification of risk as well as to take advance of variations in electricity costs in different geological areas according to seasonal weather patterns.
HLLPF has a Long-Term Technical Rank of 61. Find out what this means to you and get the rest of the rankings on HLLPF!
Hello Pal International Inc is engaged in developing markets and operates a live interactive social and language exchange platform which is Hello Pal Platform. The Hello Pal platform is a proprietary, open social exchange language and learning mobile app and network for use in a whole host of applications, including for language learning and socialization. It focuses on social interaction, language learning, and travel. The company generates the majority of its revenue from Canada. It operates in the segment of providing international open social exchange language and learning mobile application and network. Geographically, the group has operations in Canada and Asia.
