Nxt-ID (NASDAQ:NXTD) is leading Internet of Things (IoT) stocks on Wednesday with strong growth.
The jump in NXTD comes alongside heavy trading of the shares. As of this writing, more than 61 million shares of the IoT company’s stocks have changed hands. That’s a massive spike compared to its daily average trading volume of 2.72 million shares.
It’s worth noting that the increase in NXTD stock comes after a filing with the U.S. Securities and Exchange Commission (SEC) revealed voting results from its annual meeting of shareholders. One bit of news from that worth noting is that the company’s proposal for a reverse stock split was rejected by shareholders.
With the extra attention on NXTD stock today, investors are likely keeping a close eye on the company. Here’s a quick breakdown of what Nxt-ID is all about.
- Nxt-ID is a company that focuses on the IoT with a range of products and services.
- This has it focusing on creating platforms that connected smart devices over networks.
- It also creates both monitored and non-monitored personal emergency response systems.
- Another of the company’s offerings include MobileBio, a collection of biometric solutions to secure customers’ mobile devices.
- The company also helps with digital payments via its Wocket smart wallet Flye digital credit card.
- The company is led by CEO Vincent Miceli, who brings with him experience in financial and operational management, as well as business leadership.
- Nxt-ID’s current market capitalization is sitting at $18.33 million.
NXTD stock was up 23.8% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.