People are now far more mindful about their mental health than at any point in history and hence, it was no surprise that the Life Clips Inc (OTC: LCLP) stock soared considerably on Wednesday.
The company announced yesterday that it signed a letter of intent by way of which it would acquire Cognitive Apps Software Solutions Inc. Cognitive Apps is a voice-based artificial intelligence technology company that is primarily involved in mental health solutions. The news proved to be a major boost for Life Clips and the stock rallied by as high as 65% yesterday.
Cognitive Apps has managed to develop a mental health analytics platform, which is meant for businesses to better understand the mental health well-being of employees. It is a major development for Life Clips since the platform in question could have wide enterprise use. The gains made by the stock yesterday were not much of a surprise and it remains to be seen if it can add to its gains today.