Knightscope (NASDAQ:KSCP) stock is rocketing higher on Friday following the company’s initial public offering (IPO) yesterday.
Let’s dive into everything investors need to know about Knightscopre following its IPO.
- First off, note that today’s rise in price has shares recovering from a fall yesterday.
- The Knightscope IPO priced shares of KSCP stock at $10 each.
- However, that price quickly dropped following its public debut on Thursday.
- That resulted in the company’s stock sitting at $5.91 when the closing bell rang yesterday.
- Knightscope’s main focus is on Autonomous Security Robots (ASRs).
- These are robots that are able to go on security patrols without the need for a pilot.
- They also offer real-time data and act as a physical presence that can provide information to security teams faster.
- The robots are made in the U.S. and serve customers in the country.
- That includes patrolling parking lots, shopping malls, hospitals, and business campuses.
- There are a variety of models available with cheaper options for customers that don’t require mobility.
- Knightscope claims that its ASRs result in a 46% decrease in reported crime.
- William Li and Stacy Stephens founded the company in 2013.
- The two were inspired by 9/11, as well as the Sandy Hook Elementary School shooting, to create a new type of security for customers.
- A major benefit of the ASRs is their ability to report suspicious activities, as well as scan license plates.
- Trading today has some 5 million shares of KSCP stock changing hands.
KSCP stock is up 53.6% as of Friday afternoon.
There’s more stock market news for investors to sink their teeth into below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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