Why Did INNO Holdings’ Stock Rocket 255% Today?

• Megabyte will deliver a secure Web3 service framework to INNO’s upcoming marketplace platform. 
• The initiative targets supply chain and trade operations for B2B clients, enhancing privacy and streamlining logistics.
• On November 12, the company announced that it may raise up to $50 million through its common stock offering. 

INNO Holdings Inc. (INHD) announced on Monday that it has entered into a strategic collaboration with Megabyte Solutions, aiming to bring advanced Web3 technology into its global trading ecosystem. 

The agreement, formalized through a non-binding memorandum of understanding (MoU), will focus on deploying blockchain-enabled solutions to improve efficiency and security across INNO’s cross-border B2B marketplace platform.

The Partnership

The alliance will make use of Megabyte’s expertise in Web3 services to support INNO’s development of a decentralized, blockchain-powered system. The initiative targets supply chain and trade operations for B2B clients, enhancing privacy, streamlining logistics, and optimizing transaction security. 

Following the announcement, INNO’s stock traded up by over 255% on Monday morning. On Stocktwits, retail sentiment around the stock jumped to ‘extremely bullish’ from ‘bearish’ territory the previous day. Message volume shifted to ‘extremely high’ from ‘low’ levels in 24 hours. 

Blockchain Integration

The MoU outlines that Megabyte will deliver a secure Web3 service framework to INNO’s upcoming marketplace platform. 

“We will join hands with Megabyte to develop new products and services based on blockchain and decentralized technologies, aiming to address the evolving needs and challenges in cross-border e-commerce and trade.”

-Ding Wei, CEO, INNO

INNO is a construction technology company focused on improving the industry using steel framing, AI-based design, and automation. The company is also entering electronic product trading while expanding its sales and distribution network.

On November 12, the company announced that it may raise up to $50 million through its common stock offering. 

INHD stock has lost over 58% in the last 12 months. 

Also See: Kyivstar Stock Rallies After Launch Of Its Starlink Satellite Service Across Ukraine

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