Home Financial Markets Penny Stocks Why Did Alpine 4 Technologies (ALPP) Stock Spiked?

Why Did Alpine 4 Technologies (ALPP) Stock Spiked?

Small market business operator and owner, Alpine 4 Technologies Ltd (OTCQB-ALPP) registered a rise of 5.37% to $7.4500 on Tuesday. The stock was down 11.10% last week while up 166.07% for the month. The stock ranged between $7.2000 and $8.0500 during the session, with 4.47M shares traded.

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Company’s business model:

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Alpine 4 Technologies is a publicly held company that acquires businesses to implement its disruptive DSF business model of Facilitators, Stabilizers, and Drivers. The company operates with an awareness of the significance of the aspects of technology and innovation that can enhance a business. Its focus is on the adaptation of new technologies by brick-and-mortar businesses, thereby fostering innovation. Additionally, the company believes that its holdings should be able to benefit from each other synergistically, work collaboratively across varying industries, breed new ideas, and cultivate competitive advantages.

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What drove the stock?

Alpine 4 Technologies on Tuesday announced the establishment of a new subsidiary namely A4 Defense Systems, Inc. which drove the stock higher. CEO Kent B. Wilson commented about the new subsidiary saying:

  • The successful deployment of the US-1 Drone from Impossible Aerospace to the US Air Force in Q3 and Q4 of 2020, the Company felt the need to realign our investments.
  • So, in order to meet the needs of the Department of Defense and other security-based providers, we decided to split our assets into a more defined environment.
  • A4 Defense Systems will primarily focus on delivering robust surveillance and aerospace services to support the U.S. military as well as non-lethal weapons systems.
  • With this subsidiary in place, the company will have several acquisition candidates to pursue in the next six to twelve months.
  • Additionally, it opens up a total market opportunity of $1 billion for the company.

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