Why is Knightscope (KSCP) stock soaring? 5 things you must know

3 min read | February 16, 2022 12:01 AM AEDT | By Raza Naqvi

Why is Knightscope (KSCP) stock soaring? 5 things you must know — Image source: © Pookpiik | Megapixl.com

Five things to know about the KSCP stock price surge

1. Knightscope has announced a strategic partnership with Allied Universal, a company that has revenues of around US$ 20 billion and employs over 800,000 employees across the globe.

2. Under the deal, Knightscope is expected to provide Autonomous Security Robots (ASRs) to Allied Universal's customers to help them prevent crime and improve security professional safety.

3. According to the company statement, Knightscope's partnership will help Allied Universal efficiently utilize its highly-trained security professionals as ASRs can report threats to them and reduce monetary and non-monetary costs.

4. Allied Universal will deploy Knightscope's K5 Outdoor, K3 Indoor, and K1 Stationary ASRs in the United States.

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5. William Santana Li, the chief executive officer (CEO) at Knightscope, said that this deal is for the company's success as it is expected to bring steady long-term growth.

Bottom line

Knightscope is a futuristic company and is based out of Silicon Valley. The company develops and sells security robots to discourage people from committing a crime and report crime incidents.

The company is expanding its business operations and presence. Recently, Knightscope added another Fortune 500 Company to its list of clients.

Securitas, one of the largest financial services companies globally, will add the company's ASRs to its security program.

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