Blockchain stocks were the hot ticket in 2017 and investors couldn’t get enough. This year, cannabis stocks seem to have taken the spotlight, as overall interest for blockchain technology has dropped. That being said, there are still many blockchain stocks and blockchain penny stocks that have remained strong.
Let’s take a closer look at a blockchain company that has shot up recently on the CSE.
Penny Stocks to Watch: LiteLink Technologies Inc. (CSE:LLT)
LiteLink Technologies is headquartered in Vancouver, British Columbia, and it provides blockchain development and consulting services throughout Canada. The cannabis company also offers token development services and blockchain development services comprising smart contract development.
The blockchain penny stock was formerly known as AXS Blockchain Solutions but changed its name to LiteLink Technologies Inc back in August of 2018.
Last Thursday, LiteLink announced that it had joined the Blockchain in Transport Alliance (BiTA). The BiTA was formed in 2017 to establish a set of standards to educate businesses with the freight/transportation/logistics/supply chain marketplace. The BiTA member community is made up of hundreds of big-time companies in the transportation space, such as UPS (NYSE:UPS), FedEx (NYSE:FDX), and Salesforce (NYSE:CRM).
After the BiTA announcement, the blockchain penny stock saw a sharp rise. From last Thursday to yesterday, LiteLink’s stock has risen over 53%.
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This morning, LiteLink announced that it had added its first strategic logistic advisors to its company. Mr. Gurjeet Basi and Mr. Tyson Smith will join the blockchain company to enhance business adoption and sustainability. Both Mr. Basi and Mr. Smith have vast years of experience in the transportation logistics industry to bring to the blockchain penny stock.
“LiteLink is defining a new category in logistics solving minor, and major pain points and both Gurjeet and Tyson are the logistics gurus LiteLink needs to help scale and develop the 1SHIFT platform. I’m thrilled for both of their support and confident that they will make an impact while supporting our goal of creating a world where 3PLs can profitably, sustainably and reliably deliver the best value to their customers,” said LiteLink CEO, Ashik Karim.
Penny Stocks to Watch: LLT Stock Movement
According to Yahoo Finance, the blockchain penny stock has corrected from its month-long high of $0.33 a share, achieved yesterday. At press time, LLT is currently trading at $0.25 a share, down -$0.001 (-1.96%).
Featured Image: Depositphotos/© leungchopan
