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Friday, May 27, 2022

This is a stock that we should look at closer: Triterras Inc. [TRIT]

An important part of the study would be understanding the short-term and long-term trends of the stock. Shares of Triterras Inc. (NASDAQ: TRIT) have declined -6.48% over the past week, but are down -45.41% year to date. Further back in time, the stock has lost over -35.73% in the past 6 months, while it has dropped 38.53% so far this year. As a leading provider of workforce mobility solutions, Socket Mobile lets organizations capture and deliver data for improved productivity. Socket Mobile’s revenue is mainly driven by its cordless scanners and readers/writers that are integrated into third-party barcode solutions for mobile devices.


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WHAT HAPPENED RECENTLY

As of March 09, 2020, Triterras (Nasdaq: TRIT, TRITW) will partner with Western Union Business Solutions to offer cross-border payments through its Kratos platform.

Using Western Union Business Solutions’ technology, Kratos users can move global funds quickly and reliably, and receive help with currency management. Western Union Business Solutions provides business solutions that facilitate payments worldwide.

Srinivas Koneru, founder, president, and CEO of Triterras noted that We will benefit from this strategic partnership by reducing our clients’ transaction cycle times, further reducing the borrowing costs of our traders on the Kratos platform. The addition of easier cross-border payments will make Kratos an even more transformational digital marketplace for trade and trade finance. This partnership is consistent with our overall strategy.

More than 60,000 individuals and businesses rely on the innovative online technology and vast financial network of Western Union Business Solutions to handle cross-border payments and currency risk.

The agreement between Socket Mobile and SpringCard SAS represents the culmination of a strong and long-standing professional collaboration. In addition to cover core technology, maintenance and support is included in the agreement.

Finally,

Based on WSJ data, out of 3 brokerage firms currently covering Triterras Inc. (TRIT) stock, the average recommendation is “Overweight”.The stock receives an “Overweight” rating from 0 analysts, 1 analyst give it a “Buy” recommendation, 2 analysts advise investors to “Hold” this stock, and 0 analysts recommend it be “Sell.” Across all the brokerages, analysts expect the stock to trade at an average of $17.67 within a year.

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