Home Financial Markets Penny Stocks Sizzling UPDATE prompted Alpine 4 Technologies (OTCQB: ALPP) to surge

Sizzling UPDATE prompted Alpine 4 Technologies (OTCQB: ALPP) to surge

Alpine 4 Technologies, Ltd., (OTCQB: ALPP) finished the Monday session up 41.94% at ‎‎$4.400. The stock went up to $4.79 at the same session, while its lowest single-day price was ‎‎$349. Alpine 4 shares have gained by almost 929.72% over a month in contrast with a ‎weekly performance of 70.54%.‎

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‎ As the company, which runs some of the leading small market businesses in the country, ‎announced on December 28, 2020,that it had signed a binding Letter of Intent with Vayu Inc. ‎Vayu manufactures high-performance vertical takeoff and landing (VTOL) hybrid propulsion-‎powered, autonomous aircraft.

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Their customers range from national governments to private companies in Australia, ‎Canada, and sub-Saharan Africa across various sectors. Vayu will serve as a vital addition to ‎Impossible Aerospace’s platform capabilities and represents Alpine 4’s second recent ‎acquisition in the fast-growing UAV space. ‎

The Vayu shareholders mostly include leading venture capital gurus and angel investors like ‎Tesla Motors co-founders Marc Tarpenning and Martin Eberhard and NASA astronaut Esther ‎Dyson and public health experts.‎‎

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‎Likewise, the transaction between Impossible ‎Aerospace and Alpine 4 will conclude in a reverse triangular merger. Once Vayu ‎meets the closing conditions, it will become a wholly-owned subsidiary of Alpine 4. ‎Alpine 4 and Vayu expect the closing to be completed by January 10, 2021. Daniel ‎Pepper, the current Vayu CEO, will keep his position. ‎

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