Home Trending Stocks MICT stock surged in the after-hours trading session; here’s why

MICT stock surged in the after-hours trading session; here’s why

MICT stock surged in the after-market trading session by 8.29% to $1.96 at the last check. MICT stock previously closed the session at $1.81. The stock volume traded 3.42 million shares. In the past year-up-to-date MICT stock surged by 58.77%, and in the past week, the share jumped by 29.29%. In the past three and six months, the stock had shed -31.70% and added 16.77%. Furthermore, the company is currently valued in the market at $196.04 million and has 65.35 million outstanding shares.

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What you need to know about MICT Inc.

MICT, Inc. is a computer hardware manufacturing company. The company works through two of its intermediaries known as GFH Intermediate Holdings Ltd and Micronet Ltd. furthermore, Micronet Ltd, gives versatile mobile computing solutions along with exclusive trading technology platform for high growth areas in the worldwide fintech space. Essential spaces of center incorporate an online business for values exchanging and deals of protection items in a few high-development untapped business sectors including Asia where GFH claims a significant proprietary information base of clients.

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Micronet works in the developing telematics and business Mobile Resource Management (MRM) market, for the most part in the United States and Europe. Micronet plans create, fabricate, and sells versatile figuring arrangements that furnish armada administrators and field labor forces with registering arrangements in testing workplaces. The organization was earlier known as MicronetEnertec Technologies, Inc. furthermore, changed its name to MICT, Inc. in July 2018. MICT, Inc. was established in 2002 and is settled in Montvale, New Jersey.

When are the first quarter 2021 financial results due?

The MICT stock has given its stockholders and investors a precise date for the announcement and release of its financial result for the first quarter of the year 2021. The results will be released on 24th May 2021, before the market opens. The board will have a phone call on Monday, May 24 at 8:30 a.m. ET to audit monetary outcomes and give a report on corporate turns of events. Prior to this news, the company recorded an S-3 enrollment proclamation where it wishes to take note of that the recording is for the purpose of enrolling a bit of the restricted shares it has effectively given; and enlisting another shelf registration statement to empower it to make the most of potential growth and development openings later on. The present documenting doesn’t have any impact on the Company’s number of shares of any sort as of now.

MICT is expanding its product portfolio with the SmartCam

The MICT stock has enhanced its operations through its subsidiary Micronet. On April 23, 2021, its Micronet subsidiary tied down confirmation to work its smart camera product on T-Mobile’s worldwide mobile network. The Micronet SmartCam is a special and forefronts across the globe video telematics gadget that works on the Android platform as well as features in-vehicles usage.

The accreditation of Micronet’s versatile shrewd camera to work on T-Mobile’s organization, which is one of the biggest in the US, is a significant headway for Micronet as it approves the innovation with one of the world’s driving mobile systems administration suppliers.

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These agendas had reached a resolution and approval from the shareholders present in the meeting and it was announced the same day as the meeting.

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