Notable Stock to Watch: Net Element (NASDAQ:NETE)

 Net Element (NASDAQ:NETE) stock identified change of 11.47% away from 52-week low price and recently located move of -60.57% off 52-week high price. It has market worth of $17.51M. NETE stock has been recorded -14.14% away from 50 day moving average and -26.16% away from 200 day moving average. Moving closer, we can see that shares have been trading 3.48% off 20-day moving average.

 Net Element (NASDAQ:NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multichannel environment including point-of-sale (POS), e-commerce and mobile devices,  announces that Aptito will begin processing cryptocurrency payments for its merchants starting July 1, 2019.

The mass adoption of cryptocurrencies as a payment alternative continues to grow worldwide with Bitcoin being the most widely held cryptocurrency at a market capitalization of over USD $161 billion, followed by Ethereum at USD $28 billion and XRP at USD $17 billion (Coindesk). Aptito is launching cryptocurrency payment acceptance to capitalize on this growing trend and set itself apart from competitors.  Starting next month, Aptito merchants will be able to accept all major cryptocurrencies.  

Aptito’s software-as-a service (SaaS) point of sale and management solutions for the restaurant and hospitality industry are currently being used by merchants in over 15 countries.  The launch of cryptocurrency payment acceptance through the Netevia Gateway allows Aptito to continue growing its client base worldwide without the need for local acquiring bank relationships regardless of the merchant’s geographical location. Aptito clients can download software through Apple’s AppStore, subscribe and begin accepting cryptocurrency and other forms of payments.

Recent news from Facebook about its plans to launch the Libra Association and the Libra cryptocurrency with soon-to-be founders such as MasterCard, PayPal, PayU, Stripe and Visa is further proof of continued interest and investment in the industry by leading social media and financial services companies.  Aptito is ready to benefit from mass market adoption of cryptocurrencies as payment alternatives by providing its payments acceptance solutions to merchants worldwide.  

We are excited to launch cryptocurrency payment acceptance for Aptito’s clients through our proprietary Netevia Gateway, commented Andrey Krotov, chief technology officer of Net Element. Our scalable and future-ready platforms are on the-cutting-edge of global alternative payment trends. The Technology sector company, Net Element noticed change of -1.88% to $4.18 along volume of 40954 shares in recent session compared to an average volume of 50.49K. The stock observed return of 7.54% in 5 days trading activity. The stock was at -1.88% over one month performance. NETE’s shares are at -29.15% for the quarter and driving a -47.36% return over the course of the past year and is now at -26.92% since this point in 2018.  The average volatility for the week at 12.81% and for month was at 7.09%. There are 4.19M shares outstanding and 3.41M shares are floated in market. Right now the stock beta is 1.21. 

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