OLB Group (OLB) Stock: Why The Price Jumped Up Today

By Amit Chowdhry ● Feb 2, 2022
  • The stock price of OLB Group Inc (NASDAQ: OLB) increased by over 20% pre-market today. This is why it happened.

The stock price of OLB Group Inc (NASDAQ: OLB) increased by over 20% pre-market today. Investors are responding positively to The OLB Group, Inc. (NASDAQ: OLB), a diversified Fintech eCommerce merchant services provider and Bitcoin cryptocurrency mining enterprise, announcing that the company’s merchant services annual transaction volume run rate has reached $1.35 Billion in transaction volume as a result of 28.5 million transactions.

After the company’s acquisition of a portfolio of CBD merchant accounts in the last quarter, OLB started the current year with the highest revenue run rate in the history of the company. And as a result of a diversified merchant base that is not reliant on large merchants and high dollar transactions, the company’s eCommerce merchant services business is tracking at an anticipated annual revenue run rate exceeding $36 million for 2022. Since the acquisition, the company has benefited from onboarding approximately 150 new merchant accounts per month.


“In 2021, we began the year with an annualize revenue run rate of approximately $10 million. Starting this year at a $36 million annualized revenue run rate is likely to maximize our economies of scale and contribute to our bottom line.”

“Our CBD merchant portfolio acquisition is expected to add $25 million to our revenue this year and is anticipated to contribute up to $5 million in incremental EBITDA. Adding to our improved financial position by having no outstanding debt, this should give us the financial flexibility to ramp up our cryptocurrency-related operations.”

— Ronny Yakov, President and CEO of OLB

“The market is estimated to witness a y-o-y growth of approximately 20% to 23% in the next 5 years. Hemp-derived CBD is expected to grow at a CAGR of 23.4% post-pandemic owing to increasing demand from the pharmaceutical sector and rising awareness among consumers regarding health.” 

— February 2021 report by Grandview Research

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