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Saturday, December 3, 2022

FingerMotion Inc (NASDAQ: FNGR) As Short Position Increases Dramatically FNGR Continues Higher

FingerMotion Inc (NASDAQ: FNGR) is rocketing up the charts in recent trading running from well under $1 to recent highs over $3 per share. On Friday alone FNGR was up 82% on 31 million shares traded an over $100 million in dollar volume. FNGR is being driven by a dramatically growing short position that is going to need to cover fast and significant advancements coming from the Company itself. 

Recently FingerMotion announced a big data deal with Pacific Life RE (PLRe), an insurance company with over $200 billion in assets under management. This is a major enforcement of FNGR and its technology and significantly increases their credibility and standing. There are also several other catalysts at play while this single contract win represents the potential for exponential revenue growth in the future. The Company is funded for the time being following the recent financing.


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FingerMotion Inc (NASDAQ: FNGR) is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. It is one of only a few companies in China with access to wholesale rechargeable minutes from China’s largest mobile phone providers that can be resold to consumers. As the user base of its primary business continues to grow, the Company is developing additional value-added technologies to market to its users. The vision of the Company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the Company to onboard larger customer bases. FingerMotion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets. 

On August 23 FNGR reported several key milestones in relation to its subsidiary, Finger Motion Financial Company Limited’s big data analytics arm branded “Sapientus”. Over the past year, the Company has deepened its determined commitment toward working with partners in elucidating consumer insights via big data algorithm and applying behavioral analytics to the fintech sector in sparking new innovations & commercial applications.

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FNGR

The following updates capture the most recent accomplishments and milestones: 

  • Strengthening partnership network – The Company has signed a new agreement to advance to the next phase of collaboration with Pacific Life Re in Asia. 
  • Upgrade of analytic engine – As part of its ongoing model development effort, the Company has enriched its algorithms with more elaborative auxiliary data, which, in conjunction with its existing information system and records, will lend transformational support and capabilities to its analytics, empowering more precise and robust results that are suited for commercial applications. The collaborative research studies with leading industry partners have enhanced and validated the Company’s analytic framework and insurance risk rating services platform, which is now ready for deployment to the wide insurance and financial services industry. 
  • API rollout for market adoption – The Company’s risk rating services platform is built on an application programming interface (API) structure that is integrated with its partners’ core systems, linked to an underlying data repertoire and analytic framework that facilitates real-time rating feedback to insurance companies. Regular API upgrades and enhancements enable greater flexibility in tightening service integration and broadening commercial opportunities with the Company’s partners. 
  • Official patent recognition – Over the past two years, Sapientus has been granted seven patents by the National Copyright Administration of China (NCAC) for the abovementioned model algorithms and technological infrastructure as well as insurance-oriented applications, for example, Risk Rating API Design, Insurance Risk Assessment Platform and Insurance Fraud Detection System (two other applications are still pending approval). NCAC is the governing body for patent and copyright verification and approval in China. The Company’s successful applications for these patents validates Sapientus’ continuing innovation in data science and its application in the field of insurance, finance and beyond, demonstrating the Company’s active participation and contributions to the industry. 
Martin Shen, CEO stated: “Our risk rating API platform is the foundational end product built upon collaborative research conducted with our core partners over the course of the past year. We look forward to leveraging this significant achievement and look to realize many more innovation possibilities across the commercialization spectrum.” 

https://twitter.com/Ore98107279/status/1576192679175938054

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FNGR is rocketing up the charts in recent trading running from well under $1 to recent highs over $3 per share. On Friday alone FNGR was up 82% on 31 million shares traded an over $100 million in dollar volume. FNGR is being driven by a dramatically growing short position that is going to need to cover fast and significant advancements coming from the Company itself. Recently FingerMotion announced a big data deal with Pacific Life RE (PLRe), an insurance company with over $200 billion in assets under management. This is a major enforcement of FNGR and its technology and significantly increases their credibility and standing. There are also several other catalysts at play while this single contract win represents the potential for exponential revenue growth in the future. The Company is funded for the time being following the recent financing. We will be updating on FNGR when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in FNGR either long or short and we have not been compensated for this article

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