Turnaround for SEALSQ Corp
SEALSQ Corp LAES shares traded higher on Tuesday. Over the past week, the stock has risen sharply after a prolonged flat period in the stock’s price action.
Breaking Down the Situation
What To Know: Since SEALSQ Corp went public in May of 2023, shares have slid almost 100% lower. The stock took most of its downturns during the summer, with the price largely flattening out since September.
However, the stock began to reverse the prolonged lull at the end of December when shares rose on news that the company announced its post-quantum semiconductor technology fortifies cryptocurrency security.
Recent Company Milestones
While shares fluctuated in the first two weeks of January, the stock began to surge last week. During the same time, SEALSQ announced full-year 2023 preliminary unaudited revenue of $30 million, or a 29% increase compared to full-year 2022. The company also participated in CES 2024 in Las Vegas, NV during last week’s surge in price.
Shares reached a three-month high last Thursday. The company also announced the closing of the second tranche of a private placement, amounting to $10 million, after the market close on Thursday.
The Rally Continues
Despite the stock pulling back from the strength on Friday, shares bounced right back on Tuesday by over 43%. It is worth noting that the company also announced the launch of SEALCOIN.AI on Tuesday, with Google Cloud as a technology provider. SEALCOIN.AI is a digital token and an advanced cryptocurrency protocol offered by the company. Its goal is to develop and sell Semiconductors, PKI and Post-Quantum technology hardware and software products as well as create a strong economy for billions of internet-driven devices.
Related Link: What’s Going On With O’Reilly Automotive Stock?
The Share Price Position
LAES Price Action: Shares of SEALSQ Corp were up 15.0% at $2.60 at the close of the market, according to Benzinga Pro.
Image by Willfried Wende from Pixabay
