Luokung Technology (NASDAQ:LKCO) stock is on the rise Tuesday despite a lack of news concerning the company.
The increase in price for LKCO stock comes alongside heavy trading of its shares. As of this writing, more than 144 million shares of the stock have changed hands. That’s a massive jump over the company’s daily average trading volume of roughly 6 million shares.
So why exactly is LKCO stock up today? While the reason is unclear, it could be continued moment from the company’s direct offering of shares. That was announced on Feb. 5 and LKCO stock has been steadily rising since then.
With all that said, there are likely more investors looking at LKCO stock now. Those that want to know more about the company before diving in can check out the quick breakdown below.
- Luokung Technology is a company dedicated to spatial-temporal data services.
- It operates in China under its two major brands, Luokuang and Superengine.
- This has it offering interactive location-based services in the country.
- The company does so with ‘Satellite and UAV Remote Sensing Image Data, HD Map, 2D and 3D Internet Map, Real-time Trajectory, IoT Industrial Stream Data.”
- Some of the company’s recent acquisitions include SuperEngine in August of 2018, Bot Brain AI in May of 2019, and EMG in August of 2019.
LKCO stock was up 84.3% as of Tuesday afternoon and is up 311.4% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.