CIMG Inc. experienced a significant price increase of 35.04%, crossing above the 5-day SMA, amidst a broader market decline with the Nasdaq-100 down 1.17% and the S&P 500 down 0.61%.
The surge is attributed to CIMG Inc.'s signing of a $106.5 million computing power equipment contract with a major commercial bank in China, marking a major breakthrough in its computing power business segment. This contract is expected to contribute to sustained, stable revenue and cash flow for the company, enhancing its market position in the digital health industry.
This contract not only strengthens CIMG's business prospects but also reflects its innovative capabilities and market adaptability, indicating a positive outlook for future growth, particularly in the cryptocurrency and AI sectors.
CIMG Inc., formerly NuZee, Inc., is a digital marketing, sales and distribution company for various consumer products with focuses on food and beverages. The Company focuses on specialty coffee and technologies. The Company's products include single serve pour over, coffee brew bag coffee products, and single serve coffee format, DRIPKIT pour over products. Its DRIPKIT pour over format features a large-size single serve pour over pack that sits on top of the cup and delivers to its customers in the United States, Canada and Mexico. The Company also sells single serve coffee products, including its flagship Coffee Blenders line of both single serves pour over coffee and coffee brew bag coffee products. Coffee Blenders also offers Coldpresso latte product line that is available to purchase in Korea and online. The Company sells its Twin Peaks single serve pour over coffee exclusively via Amazon. It has a sales and distribution network for maca infused food and beverages.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
