Datasea (DTSS) stock price surged 962%, here’s why

February 15, 2024 04:29 AM PST | By Invezz

Datasea (DTSS) stock price surged 962%, here’s why — Image source: Invezz

Revenue growth surges

In its fiscal second quarter of 2024, Datasea reported a remarkable revenue of $11.3 million, marking an astounding leap compared to the $131,459 revenue recorded in the same period the previous year.

Datasea’s CEO, Zhixin Liu, attributed the impressive revenue growth to the expansion of its 5G multimodal communication business in China. The company secured significant service agreements in this segment, showcasing its commitment to meeting customer needs and enhancing product offerings. Liu stated,

“Our sales team vigorously and effectively promote our products where we focus on the needs of our customers and constantly optimize and improve our products and services.”

Share price forecast

Investors have responded overwhelmingly positively to Datasea’s stellar earnings report, driving a surge in DTSS stock trading activity. Over 67 million shares have been traded, significantly surpassing the company’s daily average trading volume of approximately 69,000 shares. This surge in investor interest has propelled DTSS stock to soar by an astonishing 961.7% on Wednesday morning.

Datasea’s exceptional performance in the fiscal second quarter of 2024 demonstrates its potential for growth and value creation in the dynamic technology sector. With its focus on expanding its 5G multimodal communication business and optimizing product offerings, the company is well-positioned to capitalize on emerging market opportunities and drive sustained revenue growth.

The post Datasea (DTSS) stock price surged 962%, here's why appeared first on Invezz

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media LLC., having Delaware File No. 4697309 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.