Greenbox POS Stock (GBOX): Why The Price Jumped Today

By Amit Chowdhry ● Jan 7, 2022
  • The stock price of Greenbox POS (NASDAQ: GBOX) increased by over 11% during intraday trading today. This is why it happened.

The stock price of Greenbox POS (NASDAQ: GBOX) – an innovative blockchain ledger fintech company – increased by over 11% during intraday trading today. Investors are responding positively to GreenBox POS announcing that its point-of-sale subsidiary company ChargeSavvy recorded the best quarter in its 9-year history for its retail division during the fourth quarter of 2021. And the retail division saw an average increase of 166% demonstrating remarkable growth compared to the same period of 2020.

ChargeSavvy was bought by GreenBox in July 2021 due to its leading merchant client portfolio roster and point of sale technology. And by successfully assimilating ChargeSavvy operations and technology with GreenBox to drive efficiencies in just 5 months, ChargeSavvy’s has multiplied its book of business while improving overall profitability. Since taking over, GreenBox enhanced the existing point of sale which has resulted in higher demand due to feature sets and dependability in transaction flow.

KEY QUOTES:

“ChargeSavvy’s immediate and record-breaking results undoubtedly demonstrate our leadership team’s ability to execute on our acquisition strategy and vision. This was our first major purchase with an integration of the team, culture and operations. Adding to this mix was our guidance, foresight and technological expertise in the digital payments industry and we’re seeing incredible results.”

— Fredi Nisan, Chief Executive Officer of GreenBox

“Being acquired can pose an array of challenges and uncertainty. GreenBox ensured a seamless transaction, with a smooth transition, ultimately, to position ChargeSavvy for never-before seen growth, while exhausting some obvious operational efficiencies. By working together, we quickly realized the synergies that facilitated the resurgence of our business and secure best-ever quarterly results.”

— Phil Nguyen, the newly appointed Managing Director of ChargeSavvy

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.