GreenBox POS (GBOX) stock declines in the premarket: Why is it so?

Shares of the GreenBox POS (GBOX) stock declined in the premarket trading session today on October 20, 2021. GBOX stock price saw a downtrend of 0.67% to drop at $7.41 a share at the time of this writing. The stock was also gloomy in the previous trade and went down by 3.24% at closing. There is no major culprit behind the falling GBOX stock so far however investors in the social media platforms are anticipating that this stock will further go down in the upcoming days. Let’s discuss more about this stock.

GreenBox POS is the technology stock that operates its business by providing development, marketing, and payment solutions using blockchain technology. Its products include QuickCard Payment System, a physical and virtual cash management system, and Loopz software solution. The company also offers point of sale solutions. The company was founded in 2007 and headquartered in Diego, California.

New Appointment by GBOX stock:

About a week ago on October 13, 2021, GBOX stock announced that it had appointed Robert Houghton as the Chief Technology Officer. Robert has profound experience of more than 25 years in the implementation, design, and operation of mission-critical information technology strategies for enterprises across the globe. Before joining, Robert served MovoCash, Inc as a Chief Technology Officer.

GBOX stock surpassed $1 Billion Processing Volume:

On October 08, 2021, GBOX reported that it has surpassed the $1 billion processing volume milestone for 2021. The company processed over $1 billion in transaction volume during the month of August. This represents nearly 5 times as compared to total processing volume in the whole of 2020. The processing growth is attributable to various factors including the launch of Generation 3 technology of GBOX stock, ISO and agent network expansion, ChargeSavvy, and Northeast Merchant Services.

GreenBox POS and Transact Europe Initiated Revenue Sharing

On September 23, 2021, GBOX stock announced the initiation of revenue sharing and bank licensing cooperation with Transact Europe. Previously on July 19, 2021, GreenBox stock did announce that it will acquire Transact Europe Holdings OOD which is the single entity shareholder of Transact Europe EAD. This acquisition will help GBOX stock in the expansion of its offerings, domestic clients into Europe, and will enhance the value for U.S based clients.

Wrap Up:

Things are not going well for GBOX stock as far as market sentiment is concerned. The stock lost 2.23% in the last six months however it gained almost 27% year to date. In a nutshell, investors must do deep research before making any decision.