The shares of iQSTEL Inc (OTCQB: IQST) closed down -3.03 percent on Tuesday at $0.7200, and have been trading between $0.6630 and $0.7890 on the day. iQSTEL stock rose more than 18.50 percent in the past month, with over 1.36 million shares traded. Three-month performance shows that IQST stock fell by 28.36%, with an average volume of 1.31M shares traded.
IQST stock price has gained more than 720.07% over the last 12 months, reaching a high of $2.0000 with a $99.08M market cap. Investors took profits after IQST gained 34% following changes made to the board of directors.
IQST’s board has undergone what changes?
iQSTEL operates in 15 countries with leading-edge Telecommunication, Technology and Fintech Services. IQST is publicly-traded in the United States. IQST provides services to several industries, including telecommunications, electric vehicles (EVs), financial services, chemicals, and liquid fuel distribution. In addition to electric vehicles (EVs), IQST also offers Technology, Telecom, Blockchain, and Fintech divisions.
Furthermore, IQST has international business-to-business and business-to-consumer relationships through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, Global Money One, IoT Labs, and itsBchain. IQST has an extensive portfolio of products and services including from SMS, VoIP, international fiber-optic connectivity for 5G, Cloud-PBX, OmniChannel Marketing to EV products and Management System and Connectivity.
iQSTEL announced the addition of three new board members on Monday.
- All of the newly added members share with IQST a wealth of experience in telecommunications, technology, and the finance, legal, and regulatory management areas.
- IQST will have majority independent Board Members as of July 1, 2021, which will exceed another of Nasdaq’s listing requirements and further the company’s upward climb.
- A solid operational foundation base that generated revenue of over $44 million in 2020 continues to be the basis of IQST’s high growth telecommunications and technology business plan.
- By 2021, IQST forecasts revenues of $60.5 million through the development of new products and services with high margins.
IQST revenue growth:
iQSTEL last week reported $6.47 Million in revenue for May 2021. In IQST’s preliminary accounting results for May 2021, revenue increased 16% over May 2020. For the first five months of the year through May 2021, IQST generated $24.6 Million in revenue.
IQSTEL (IQST) is encouraged by the performance of all operating subsidiaries and is confident about meeting its $65 Million revenue target. After the close of Q2, IQST plans to provide an update on the company’s ongoing M&A campaign.
