Thinspace Technology Inc (OTCMKTS:THNS) started the week on a weak note and recorded three red sessions in a row. However, the stock managed to turn the ride yesterday as it surged more than 61% to close the day at $0.00725. The gains came at a share volume of 57.73 million compared to average share volume of 13.49 million.
Recently, Thinspace reported that it has partnered with Centerm Information Co., Ltd to progress on the development and production operations of its cloud computing devices. The strategic partnership holds significant value as Centerm is a leading cloud computing device manufacturer based in Asia-Pacific region. The only area where the company doesn’t have strong roots is in Japan, otherwise in rest of Asia-Pacific region it has been a leader firm since last four years.
Under the new partnership, Centerm Information will provide Thinspace with innovative design and manufacturing solutions to satiate the budding demand of cloud computing. Centerm Information has a team of more than 600 engineers working on development of unique cloud client devices. Also, the company possesses huge production capacity to produce more than 3 million sets, annually.
The management speaks
Christopher Bautista, the CEO stated that working with associates not only helps to meet the needs of customers, but also helps the company to meet the set targets. Centerm Information has shown to be a promising partner with whom they can develop advanced cloud computing offerings for customers. The two firms form an excellent strategic partnership.
Thinspace will work on advanced technology to make cloud computing solutions more simple, secure and affordable while Centerm will work to develop advanced end-user hardware for operation of desktop and application virtualization.
Thinspace Technology Inc (OTCMKTS:THNS) finished the last trading session with a monstrous gain of 62% and that kind of return in a single session could only signal a rerating of the stock by the market participants. Expectedly, the volume of 57.7 million was much higher than the daily average of 22.6 million. The low of the day at $0.0041 was not very far away from the 52 week low of $0.0027 and some long term buyers were only to be expected there. If the bulls can make a successful attempt, further upside to $0.02 or even $0.03 can be seen.