AUS
NZ
UK
CA
USA
IND
Highlights:
- On January 28, the KSCP stock skyrocketed 175.6 per cent to close at US$ 16.29 per share.
- The KSCP stock began trading on Thursday, January 27 and opened at US$ 14.44 per share. The IPO price of the shares was US$ 10 apiece.
- The California-based Knightscope is a developer of autonomous security robots (ASR) and appears to be a futuristic company.
Stocks of Knightscope Inc. (NASDAQ:KSCP) surged 18 per cent during pre-market hours and traded at US$ 19.2 apiece at the time of writing. On January 28, the KSCP stock skyrocketed 175.6 per cent to close at US$ 16.29 per share.
The sudden surge in the recently listed stock could attract the attention of stock market enthusiasts. Since the beginning of this year, private companies that have gone public didn't attract investors' attention like the previous year.
Also Read: Can Arm IPO happen in 2022? All you must know
Additionally, some companies have delayed their IPO plans, and they could wait for the market to get back to normal. Fears over expected interest rate hikes from the Federal Reserve has kept investors sceptical.
Why is Knightscope (NASDAQ:KSCP) stock skyrocketing?
The KSCP stock began trading on Thursday, January 27 and opened at US$ 14.44 per share. The IPO price of the shares was US$ 10 apiece, and the stock surged as much as US$ 15.48 apiece during the trading session.
Notably, the surge did not last for long, and the shares closed about 41 per cent lower than the IPO price. On Friday, January 28, the KSCP stock gained momentum by opening at US$ 7.07 per share and ended the day at US$ 16.29 apiece.
©2022 Kalkine Media®
The rise in stock prices could be due to the announcement that Knightscope has secured a new customer in the list of Fortune 500 companies.
Knightscope announced that Securitas is now its customer. The announcement is important as Securitas is one of the world's largest providers of electronic security solutions.
Bottom line
The California-based Knightscope is a developer of autonomous security robots (ASR) and appears to be a futuristic company. Securitas has added a Knightscope K5 ASR to the security program of a large finance company in the US.
Notably, K5 ASR is a patrolling robot, and it will monitor a newly constructed parking structure to deter car thieves, criminal trespassing, and loitering.
On January 8, Knightscope announced that it added one of the largest US-based electric and natural gas companies to its client list. Five Knightscope ASRs will patrol the facility to detect threats that may harm humans.
Also Read: Ripple IPO date: What do we know about it?
