Alpine 4 Technologies, Ltd (ALPP) stock price was up 32.25% from the previous close to $7.30 on Friday evening. The Company, with a Market capitalization of 689,999,972, has a total of 124,999,995 shares outstanding.
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Company Info
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Alpine 4 Technologies, Ltd (ALPP), a publicly-traded conglomerate, acquires businesses from around the world that fit within its groundbreaking business model. Alpine 4, realize the value of incorporating technology and innovation into enhancing a business. The Company’s research focuses on brick-and-mortar businesses’ ability to adapt to new technologies, which can drive innovation.
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What’s the update?
Alpine 4 Technologies, Ltd. (OTCQB: ALPP) announced that one of their drone subsidiaries, Vayu, will break the world record of distance flown. Vayu’s G1 VTOL aircraft is the first to reach over 1,000 miles under its power.
The Vayu team is headed to Equatorial Guinea, Africa, to fulfill this project in the upcoming weeks. Their G1 aircraft will be flown approximately 128 miles from Bata to Bioko. A G1 will also be flown three hundred and sixty-four miles from Bioko Island to Annobon Island, around 364 miles away. The last uncrewed aerial vehicle (UAV) distance record was set in 2017 by Nevada UAS Consortium with a fixed-wing UAV for about 97 miles.
Daniel Pepper, the CEO of Vayu, has been working through the logistics of moving the G1 aircraft internationally since soon after the application was submitted to Guinness World Records. Mr. Pepper’s trip to Africa with a Vayu aircraft will not be his first. He and his team partnered with USAID in Malawi to test delivery capacity in remote areas to help combat Zika. A further collaboration with the Stony Brook University Global Health Institute helped deliver blood samples and vaccines to Madagascar.
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Summary:
Even before the news was officially released, Alpine 4 Technologies’ stock was trending higher. In my opinion, this news is a massive achievement for the Company, and at this point, this stock seems set to maintain the pace for some time to come.