Last week innovative Internet of Things, virtual reality, augmented reality, machine learning and artificial intelligence company Cemtrex Inc (NASDAQ:CETX) was in the news.
On October 12, Cemtrex provided a corporate update with regards to its industry, financials and business operations. The updates provided by the company came as a source of optimism for many investors and the Cemtrex stock rallied strongly. Over the course of the past week, the stock has rallied by as much as 17%. The company noted that it operates a diversified portfolio of companies as a holding company and listed out the brands that it controls.
At this point in time, the company controls a total five different brands across a range of industries. More importantly, the Chief Executive Officer of Cemtrex, Saagar Govil, stated that in the second half of the financial year 2021, the company has seen continued improvement in demand.
The reopening of businesses and the economy has helped the company in generating demand similar to the pre-pandemic levels one again. It goes without saying that these were all positive updates and hence, the excitement among investors is also perhaps understandable. It now remains to be seen if the stock can continue to add to its gains this week.
