Data443 Risk Mitigation Stock Doubled On Sudden Buying Interest: Is it A Bullish Sign?
As the market slowly rebounds from the lows of the past months, many stocks are rebounding as well, and that is true for small-cap stocks as well. One of the small-cap stocks that seem to have come into the radars of investors is that of Data443 Risk Mitigation (OTCMKTS:ATDS). The stock has made a strong move over the recent days and has also become one of the leaders in terms of traded volume.
Why the Stock Jumped?
On Thursday alone, the Data443 stock soared by as much as 106%, and considering such gains; it could be remiss if investors did not take a closer look at the stock.
The reason behind the strong rally in the stock is not hard to decipher either. Data443 has come up with a product that could get a lot of traction at this point in time, and it is perhaps a case of coming up with the right thing at the right time. It launched a cloud-based product line named Group Privacy Manager, which includes Data443 Chat History Scanner.
The product in question is powered by ClassicDocs, an application that belongs to Data443. Due to the coronavirus pandemic, hundreds of thousands of people are now staying at home, and online meeting services have become hugely popular as a consequence.
It is believed that there is still ample room for growth in the online meeting space, and hence, the excitement regarding the Chat History Scanner is understandable. It remains to be seen if the stock can add to the gains that it made on Thursday, and it is likely that many investors are going to track it closely today. Investors could do well to keep a close eye on the stock over the course of the coming days. Earlier this week, the company also provided an important business update with regard to its business operations and its finance.
The company announced that it is committed to continued innovation with regards to its product lines and went on to state that it will make product announcements in the near term. That was another positive development for investors as well as for market watchers. On the other hand, Data443 also announced that it has paid off Modevity all the money due pertaining to the purchase transaction.
The amount of $1.2 million has been paid off, and the company no longer owes anything to Modevity. Last week, Data443 made another major announcement that further demonstrated the fact that the company is possibly in the right direction. The company announced that the Miami Dolphins of the National Football League renewed its contract pertaining to the ARALOC Sports Management Platform that is sold by Data443. It is another feather in the cap for the company.
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