IOT Company Enjoys A Mid-Week Spike Following Major Announcement

By: Dylan Sikes – AllPennyStocks.com News

Wednesday, November 6, 2024

A certain micro cap in the tech space is stealing the show on Wednesday a day after the company announced that it signed a MOU to accelerate AI with advanced server solutions, according to a late press release yesterday.

Shares of ARB IOT Group Limited (Nasdaq:ARBB) rose sharply on Wednesday, a day following the announcement, as traders gobbled up shares to take advantage of the bullish wave that accompanied last night’s presidential election. Shares of this micro cap traded up to $1.12/share (+98.41%) at the early session high, which is a strong continuation of the success this stock has had over the last few months.

ARB IOT Group Ltd is engaged in provision of hardware and software of Internet of Things solutions to meet customers demand in four business lines, which are IoT Smart Home and Buildings, IoT Smart Agriculture, IoT System Development and IoT Gadget Distribution. The company delivers holistic solutions with full turnkey deployment from designing, installation, testing, pre-commissioning, and commissioning of various IoT systems and devices as well as integration of automated systems, including installation of wire and wireless and mechatronic works.

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