In the past week, investors in the cryptographic technology company GBT Technologies Inc (OTCMKTS:GTCH) have not had a particularly great time as the stock suffered from a selloff and went down by as much as 11% during the period.
Trading Data
On Tuesday, GTCH stock slid 1% to $0.1731 with 70K shares, compared to its average volume of 155K shares. The stock moved within a range of $0.1700 – 0.1748 after opening trade at $0.1745.
GBT Developing a Proprietary Cryptographic Technology – Designed to Secure a Long-Range Radio Communication System
In this situation, it may be a good idea for investors to take a closer look at the company and figure out if the stock might actually rebound any time soon. The company is currently in the process of developing its cryptographic technology for the purpose of securing the long range radio system that it has been working on.
The technology that the company is working on is meant for providing cybersecurity to specific applications and provide significant security to communications. In this context, it ought to be noted that GBT Technologies is mainly looking to eventually offer the technology to government departments and to the military.
It is a project that could open up significant value for the company in the years to come if it does end up being successful. At this point, it may be a good idea for investors to keep the GBT Technologies stock in their watch lists.
Key Quote
“We are now working on proprietary data protection and secured communication cryptographic methodologies. Wireless systems suffer from serious security vulnerabilities especially when used in military and governmental applications. Data can be exposed to intruders’ attacks, theft and jamming. We believe our advanced cryptographic methods, upon development, will provide a cognitive cybersecurity system ensuring its reliability and security. The AI governed system is intended to make real time intelligent decisions regarding the use of symmetric or asymmetric encryption methods according to the application nature, weather and terrain conditions – stated Danny Rittman, the Company’s CTO.
Technical Data
GTCH stock is trading below the 20-Day and 50-Day Moving averages of $0.19 and $0.19 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.47.
