Boston, MA 06/05/2013 (wallstreetpr) – The share prices of Net Element International Inc. (NASDAQ:NETE) had surged by 10.37 percent to close at $4.53 per share for the end of last trading session on Tuesday. The shares of the company had been trading in the range of $3.50 to $4.98 per share during the day, before closing at $0.43 higher than previous close of the share on Monday.
The shares of Net Element International Inc. (NASDAQ:NETE) had recorded 52 week low price level of $1.90 per share and 52 week high price level of $12.25 per share. Net Element International Inc. (NASDAQ:NETE) presently focuses on electronic commerce and mobile payment processing solutions. In line with these business operations, the company had recently entered into a multiyear, multimillion dollar agreement with The Skolkovo Foundation for the development of mobile payment processing technology.
This investment allocation by Net Element International Inc. (NASDAQ:NETE) along with the government funded research and development center in Moscow would provide for access to early stage mobile payments and transactional services technology. For this investment, the company would thereby set aside $12 million over a span of three years to fund the project, which would be overseen by the innovation center at The Skolkovo Foundation.
Net Element International Inc. (NASDAQ:NETE) had witnessed a trading volume of 33,771 shares on Tuesday, while the average trading volume of the company is at 14,162 shares per day. The company had recently been witnessing such heavy trading volumes and surge in share prices owing to its investment agreement.
