Why Professional Diversity Network (IPDN) Stock Is Up Over 200% Friday

Shares of Professional Diversity Network Inc (NASDAQ:IPDN) are surging on Friday following the company’s announcement of a strategic move into the Web3.0 space.

What To Know: The Chicago-based company, a developer of online networks that provides access to networking, training, and employment opportunities for diverse professionals, has signed a non-binding Memorandum of Understanding with OOKC Group, a Dubai-based technology enterprise.

The collaboration aims to develop the world’s first compliance-driven Web3.0 digital investment banking platform. This initiative will focus on the tokenization of real-world assets, Web3.0 project financing and decentralized capital structures.

“This collaboration with a leading Web3.0 technology enterprise represents a significant strategic step for PDN as we begin to explore opportunities in the virtual asset and digital finance markets,” said Xun Wu, Chief Executive Officer of PDN.

Price Action: According to data from Benzinga Pro, IPDN shares are trading higher by 356% to $8.81 Friday. The stock has a 52-week high of $11.20 and a 52-week low of $0.97.

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How To Buy IPDN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Professional Diversity’s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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