What happened to the GCN share price?
GoConnect Limited [ASX:GCN] saw limited movements today. GCN’s share price stayed flat when the market opened.
The Aussie market fluctuated during today’s trading session and the commodities market rebounded from a sharp drop yesterday. GoConnect has been relatively unaffected by the Brexit.
Why did GoConnect shares do this?
Recently, Go Green Holdings (45% owned by GCN) incorporated a new company, Virtual Reality Creative China Ltd (VRCC). VRCC operates through two divisions: Dream Factory VR department store and an interest in a TV series franchise being developed in partnership with GCN’s independent director Mr Philip Chan.
Dream Factory VR provides VR and AR celebrity curated shopping experiences to end users. TV series can be distributed in VR format, and can cross-promote VRCC, Dream Factory VR and the ‘Judith’ brand of table grapes through its platform.
What now for GoConnect Limited?
I am sure this is one of the many steps GoConnect will be taking to realise its objective in the arena of Virtual Reality. VRCC is envisioned by the company to become one of the top three media companies in Virtual Reality in China.
I see the setup of VRCC as a solid one towards the company’s end. However, it is not just VR; it is an interaction between media, VR technology, agriculture and consumer retailing. This is a synergy-positive step for GoConnect.
I look forward to the fast-paced development at GCN. I am expecting positive revenue generation from VRCC after it starts to operate.
Emerging Market Analyst, New Frontier Investor