One Horizon Group (OHGI) Stock Soars on Chinese App News
Shares of One Horizon Group Inc. (OHGI) were down -0.15 or -3.49 percent to $4.15 in this morning's premarket. The stock is trading correctively lower after rising +2.28 or +112.87 percent to $4.30 in yesterday's regular trading session. The company announced yesterday that its Chinese retail voice over Internet Protocol (VoIP) service would now support all Chinese mobile payment platforms.
One Horizon Group announced yesterday that its Chinese retail VoIP service, Aishuo now supports all the major Chinese mobile payment platforms, Alibaba Group Holdings (BABA) Alipay, China Union Pay and Tencent's Wechat Wallet. The Aishuo platform began to take hold in China in February of this year, when Chinese smartphone users began to download the app. Since then, One Horizon Group has exceeded 3.5 million downloads of the app in China, with the 3 million mark surpassed on May 13th.
Brian Collins, Founder and Chief Executive Officer of One Horizon said in a statement that, "From a monetization perspective this is an important development for Aishuo, as our premium features are now easily funded through all of the most popular mobile payment platforms in China. Combined with our significant increase in the app download rate, we expect a ramp up of revenues from premium services as customers choose to add low cost voice minutes and rental of Chinese telephone numbers to their app usage.
The Aishuo app allows users to buy credit allowing them access to a number of Aishuo premium app services. The services include the company's proprietary mobile phone optimized VoIP calling solutions with extremely competitive per minute rates. Other services include the Virtual SIM number rental service, which gives the user a local Chinese number for family and friends to call without having to sign up for an expensive mobile phone plan.
The company is now seeking to acquire an additional 15 million new subscribers to its VoIP mobile service in China over the next two years. One Horizon plans to leverage its user base in China for generating industry average revenue for each user in mobile advertising, mobile VoIP and social media apps.
One Horizon's stock saw considerable volume and more than doubled in yesterday's regular trading session on the news. The micro-cap company could see additional interest in its stock following its expansion into the Chinese market. The stock traded as high as $5.75 yesterday and could test its highs in the coming weeks.
Other News About OHGI
One Horizon Group Announces First Quarter 2015 Financial Results
Company reported revenue dropped year over year in the first quarter.
SeeThruEquity Issue Update on One Horizon Group (NASDAQ: OHGI) Highlighting Downloads in China
Analyst's $4.05 price target has already been surpassed after yesterday's action in the stock.
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