The big data services sector has gained in importance in recent years and for good reason too. Hence, it is no surprise that more and more investors are looking for options in the sector and one of the stock that could be worth tracking this week is the Luokung Technology Corp (NASDAQ:LKCO) stock.
Last week the Luokong stock was in the news and ended the week with gains of as much as 17%. Back on August 26 the company announced its preliminary revenue results for the six month period that had ended on June 30, 2021. The numbers posted by the company were strong.
In that period, the company managed to bring in revenues of as much as $37.6 million. More importantly, it was a significant jump from the $7.3 million in revenues that the company had generated in the form of revenues in the same period in 2020.
The Chairman and Chief Executive Officer of Luokong, Xuesong Song spoke about the strong performance as well. He stated that the continued investment in technology helped Luokong in building a strong portfolio of products and went on to add that it has also led to the creation of a certain competitive advantage.