Majic Wheels, Corp. (OTC Pink: MJWL)
In the world of OTC stocks, the majority of stocks will turn out to be “pump and dump”. Very few companies will succeed in becoming real companies with real potential.
Lately we have witnessed the great success of HMBL which has gone from penny stock to over $1.00. Several investors who believed in the company became millionaires. Companies like HMBL are rare but one is currently turning out to be one of the biggest potentials of 2021 in the OTC world.
Significant acquisition for Majic Wheels, Corp.
May 21, 2021, Majic Wheels, Corp. (OTC Pink: MJWL) announced that it has executed a binding letter of intent to acquire a USD 150M cryptocurrency exchange and custody services platform: CGCX Ltd.
The news generated a rise of 122% to close at 0.031. The following days exploded the stock to reach a high of 0.133 last Friday while all investors await the filing of financial statements which is the obligatory step before the acquisition with CGCX.io is formalized by July 01 according to information on the OTC
Why is this agreement so huge?
CGCX has already established a crypto trading platform and custody solutions. And more, it is one of the first participants to offer insurance to some of its clients.
CGCX has established three different business lines that complement the needs of the cryptocurrency market.
On April 07, 2021, CGCX.io announced that they will allow traders in India to directly buy and sell crypto assets from a dedicated trading desk as individuals or as an institution. A fully insured OTC desk will make the buying and selling of crypto easier and reduce traders ’risk of loss.
Entering India is part of the company’s growth strategy as it expands to global markets. India, which is home to more than a billion people, has massive potential for crypto adoption.
Besides the crypto exchange, CGCX also has its own token with a $53 million market cap.
“The company’s growth strategy as it expands to global markets”
And more, CGCX is handling BGBF BCMG Genesis Bitcoin Fund-I (BGBF-I). A South East Asia’s first insured and regulated Bitcoin fund. This is the first of its kind Bitcoin fund which institutionalizes the active management of the digital asset to provide a steady return on investment. The investors can feel safe with fixed returns from the fund and avoid the volatilities of Bitcoin.
Why MJWL have so much potential?
Majic Wheel currently has only 1.1 billion shares issued and the company has recently stated that the acquisition of CGCX.io will be effected with restrictive and preferential shares only which avoids short-term dilution and significantly increases the upside potential of the share price.
But most interestingly, the company said it has other acquisitions to come in addition to the $150 million in value which makes the upside potential even greater.
The bets are open …
Could MJWL be the 2021 stock ?
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