Global Arena Holding Inc (OTCMKTS:GAHC) is up about 40% since Wednesday morning but gave much of it back late Thursday. GAHC launched upward on no real news or a significant press release, but there has been speculation that some sort of juicy release has been coming since October.
GAHC has shed more than 50% in market value since June, a period in which Bitcoin has surged astronomically. The stock has resurged over the last 48 hours and many are wondering if something is imminent for the blockchain tech company.
Global Arena Holding Inc (OTCMKTS:GAHC) has managed elections across five continents, processing over 3.7 billion votes. It serves customers through an organization comprising over 600 employees across 12 offices around the world.
Furthermore, the company is building a voting program that will allow their subsidiary GES to conduct more elections increasing its revenue. GAHC is expected by some to move in tandem with bitcoin prices given that its core business involves acquiring technologies, patents, and companies with exposure to blockchain crypto technology.
GAHC operates through two subsidiaries. Global Election Services is the company’s subsidiary responsible for managing elections in various parts of the world. The unit comprises of over 600 employees. The entity has, to date, processed over 3.7 billion votes.
GAHI Acquisition Corp, on the other hand, provides Global Arena Holding shareholders exposure to the cryptocurrency business. The subsidiary owns Blockchain Technologies Corp, focused on applying blockchain to the financial space. Global Election Service is also developing blockchain technologies for voting processes.
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One reason why this stock is volatile and really sloped downward is that GAHC does not know what it means to be transparent. The company’s operations are not clear, so investor confidence is fleeting. In August, the company confirmed that its subsidiary, Global Election Services, had implemented a new proprietary software and hardware for ballot scanning during tabulation.
OMR/OCR /Barcode is a new software that the holding company is hoping to use to further strengthen its prospects in the elections business. The new system is designed to run without internet or Wi-Fi, to prevent hackers from gaining access to it, as it has been the case in other systems.
“Our priority is to provide our clients with the absolute best election services possible. These new proprietary tools, coupled with decades of reputable election management experience, makes that slogan a reality,” said CEO John Mathews.
“Having completed five elections together so far, it is clear that Smartmatic is a good fit to work with GES. They have been easy to work with as we tailor the software to suit our clients’ needs, maintaining the standard of quality our team has provided over the last 35 years,” said Maralin Falik, CEO of Global Election Services.
Matthews added, “We are very excited to see the continued success of our relationship with Smartmatic and look forward to growing together to serve our current and future clients’ needs. This is a great opportunity for us to add more advanced technology solutions for our clients.”
Global Arena Holding Inc (OTCMKTS:GAHC) has a market cap of $16.11M and 575.35M shares out. We are watching closely and will be providing updates, but this is one where we expect something to come from the company soon.For continuing coverage on shares of $GAHC stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $GAHC, either long or short, and we have not been compensated for this article.