Tag: Stock

Seagate Technology’s stock surges toward a record after double upgrade at BofA

Shares of Seagate Technology PLC
STX,
+0.92%

jumped 2.1% toward a record high in midday trading Thursday, to buck the selloff in its technology peers and the broader stock market, after BofA Securities analyst Wamsi Mohan swung to bullish from bearish on the data storage company, citing the nearing of an “inflection” in revenue trajectory and industry profitability. Mohan raised his rating to buy from underperform, while lifting his stock price target to $90 from $54. He said he expects capacity additions to moderate, pricing to normalize and mass capacity hard-disk drives (HDD) to drive improvement in revenue, mix and

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Why Luokung Technology Stock Plunged Today

What happened

Luokung Technology‘s (NASDAQ:LKCO) stock price fell 26% on Wednesday after the Chinese provider of location-based services for autonomous vehicles announced a massive stock offering. 

So what

Luokung’s shares more than quadrupled in value after its acquisition candidate, eMapgo Technologies, said on Feb. 4 that it would work with Beijing New Energy Automobile to co-develop mapping services for electric vehicles. 

A person is pointing to a stock chart that rises sharply and then falls.

Luokung Technology gave up some of its recent gains on Wednesday. Image source: Getty Images.

This morning, Luokung moved to cash in on its recent share price gains by conducting a $100 million direct offering. Luokung will sell

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LKCO Stock: 5 Things to Know About Luokung Technology as Shares Rocket Today

Luokung Technology (NASDAQ:LKCO) stock is on the rise Tuesday despite a lack of news concerning the company.

a stock image of a person working on data charts using a futuristic computer.

Source: Shutterstock

The increase in price for LKCO stock comes alongside heavy trading of its shares. As of this writing, more than 144 million shares of the stock have changed hands. That’s a massive jump over the company’s daily average trading volume of roughly 6 million shares.

So why exactly is LKCO stock up today? While the reason is unclear, it could be continued moment from the company’s direct offering of shares. That was announced on Feb. 5 and LKCO stock

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Why Luokung Technology Stock Jumped Today

What happened

Shares of Luokung Technology (NASDAQ:LKCO) were moving higher Friday after the Chinese provider of location-based services for autonomous vehicles and drones announced another share offering. As of 1:15 p.m. EST, the stock price was up 35% to $1.62.

A drone carrying a cardboard box

Image source: Getty Images.

So what

In a press release Thursday, Luokung said it would float a direct offering of 16.9 million shares at $0.88 per share, raising $15 million for the company. Those investors will also receive warrants to buy an additional $9.375 million worth of shares at $1.11 per share at a later time. Proceeds from the stock

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DXC Technology Stock Remained Flat Last Week, Are Gains Upcoming?

DXC Technology’s stock (NYSE: DXC) has been nearly flat over the last 5 trading days. The company announced its results on February 4th, 2021. For Q3 FY 2021 (ended December 2020) DXC Technology recorded revenues at $4.3 billion, down 14.6% y-o-y and earnings at $4.32 per share, primarily due to a $2 billion gain on dispositions of businesses.

The above factors have been responsible for DXC Technology’s

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