Gorilla Technology (NASDAQ:GRRR) stock is on the rise Thursday after the artificial intelligence-based edge video analytics, Internet of Things and cybersecurity company announced a partnership.
According to a press release from Gorilla, the company has reached a strategic agreement with British Telecom (OTCMKTS:BTGOF), or BT Group. This will have it creating a Container Identification and Container Damage Detection solution for the multinational telecommunications company.
Gorilla Technology notes that this system will be used at the Port of Tyne in Northern England. It will allow British Telecom to easily track shipping containers and determine potential damage to containers sooner.
Brian Jackson, the director of Surveillance and SMART Solutions at British Telecom, said this about the agreement:
“We are thrilled to work with Gorilla on this groundbreaking solution, which we believe has the power to revolutionize the logistics industry […] This collaboration showcases our commitment to driving innovation and delivering transformative solutions that empower our customers to optimize their operations and enhance supply chain integrity.”
How This Affects GRRR Stock
News of this deal has investors excited, as it represents a major milestone for GRRR stock. As a result, the stock is seeing increased interest today, which has led to heavy trading of shares. This has more than 27 million shares changing hands as of this writing. For the record, its daily average trading volume is about 4.6 million shares.
GRRR stock is up 10.1% as of Thursday morning but down 74% year-to-date (YTD).
Investors looking for more of the most recent stock market news are going to want to keep reading!
We’ve got all of the latest stock market coverage that traders need to know about on Thursday! A few examples include why stocks are down today, as well as what’s happening with shares of Netflix (NASDAQ:NFLX) and Tesla (NASDAQ:TSLA) stock today. All of that news is ready to go below!
More Thursday Stock Market News
- Why Are Stocks Down Today?
- NFLX Stock Alert: The Real Reason Netflix Is Down Today
- Roth Capital Just Issued a HUGE Warning on Tesla (TSLA) Stock
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On the date of publication, William White did not hold (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.
