Short term profit takers reacting to larger market forces today.
Well done to anyone loading up at .029c today, you have scored a bargain. Bounced off support once again.
Volume impressive once again with 44 million shares traded.....
Market can sniff an announcement coming soon.
Here's an article about JP Morgan Chase and what they been doing in the UK recently.
"JPMorgan Chase in talks to invest in UK fintech10x "
"Future Technologies was set up by ex-Barclays boss Antony Jenkins JPMorgan Chase is in talks to purchase a stake in 10x Future Technologies, the banking technology start-up founded by former Barclays chief Antony Jenkins, according to a person close to the situation.Founded in 2016, 10x develops technology that allows banks to retrieve customer data more quickly, supporting faster, cheaper banking services. Many banks around the world still depend on core processing technology that was developed decades ago.The size, terms and timing of any potential deal remain unclear. The talks were first reported by Sky News on Wednesday.
Both JPMorgan and 10x declined to comment.A deal with JPMorgan, the largest bank in the US, would represent a major vote of confidence in 10x, which only recently had looked to have an uncertain future after losing its largest client, the UK bank Virgin Money. The company was designing a new system for Virgin, but the project was abandoned after the bank was taken over.10x has since started working on a project for Nationwide Building Society, which also took a £15m stake in the business in March. The Nationwide project is focused on a digital platform for business current accounts. Rebecca Skitt, the chief executive of 10x, said that investment “validates our potential”.Other investors in 10x include Ping An, a Chinese financial services group, and the financial services consultancy Oliver Wyman. Mr Jenkins wrote in the Financial Times last year that banking was “in an Uber moment — a sudden, significant shift in customer habits wreaked by new technology”, and that digital challenger banks could unseat big incumbents such as Barclays and Lloyds by offering superior customer service grounded in cutting-edge technology.Recommended FintechBankers joining fintechs find adrenalin and bruised egosJPMorgan, which has an internal technology budget of more than $10bn a year, has also made a series of investments and acquisitions in the fintech space. The bank invested in InvestCloud in 2016, and in 2017 it bought both WePay, a business payments technology provider, and a mobile payments technology developed by MCX. Last month the bank bought the healthcare payment company Instamed for $500m.The bank also announced last year that it was building a “fintech campus” in Palo Alto in Silicon Valley that will house more than 1,000 employees."
