Chinese company Luokung Technology Corp (NASDAQ:LKCO), which is one of the better known operators in the big data services space, has seen its stock make a strong move over the course of the past week.
On Thursday, the stock was in action and ended the day with gains of 15%. The rally in the stock yesterday took its gains for the past week to as much as 35%. The stock actually came into focus yesterday after Luokong announced the preliminary revenues for the six month period that ended on June 30, 2021. It might be a good move to take a closer look at the numbers revealed by the company.
The company announced that it managed to generate total revenues to the tune of as much as $37.8 million for the first half of the year. More importantly, it reflected a massive year on year rise from the revenues of $7.3 million that the company had generated in the same period in 2020.
The company noted that the bulk of the revenues was generated by its LBS business and contributed as much as $31.6 million. Investors could now consider putting the Luokong Technology stock to their watch lists.