Borqs Technologies Inc. (NASDAQ:BRQS) was up 15% after the global IoT, 5G wireless solutions provider signed revised license agreements with Qualcomm that included the acquisition of a 5G patent licensing deal. These partnerships allow the Borqs to create and produce 5G products for clients around the globe using Qualcomm’s cutting-edge technologies.
Trading Data
On Thursday, BRQS stock soared 15.30% to $0.1963 with more than 246.54 million shares, compared to volume of 12.76 million shares. The stock moved within a range of $0.1888 – 0.2470 after opening trade at $0.2390.
Borqs Technologies Has Successfully Purchased 5G License with Qualcomm
The widespread use of 5G in conjunction with Qualcomm 5G technologies will continue to strengthen 5G’s suitability for applications beyond smartphones, including home connectivity, industrial equipment, computing power grid control, and much more.
According to a Grand View Research Inc. study, the worldwide 5G market is expected to hit $1.67 trillion by 2030. There is a growing demand for low-latency and ultra-reliable data networks that can offer an enhanced mobile connection to boost market growth during the forecast period. In North America, the US will dominate the regional market between 2022 and 2030 due to the increasing demand for enhanced data speeds for various end-use applications, including M2M communi8cations, smart mobility management, and Energy & utility management. So investors should watch BRQS.
Technical Data
BRQS stock is trading below the 20-Day and 50-Day Moving averages of $0.21 and $0.27 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.53.
