The mobile application development industry continues to be a booming one and investors are almost always on the lookout for stocks in that particular sector.
Nowadays, there are plenty of options for such stock and one of the stocks that could be looked into today is that of AppSwarm Corp (OTCMKTS:SWRM). The stock had been in sharp focus investors on Thursday following a key development and had ended the day with gains of as much as 14% amidst heavy interest.
Trading Data
On Thursday, SWRM stock moved up 14.29% to $0.0028 with more than 2.31 million shares, compared to its average volume of 3.79 million shares. The stock moved within a range of $0.0025 – 0.0028 after opening trade at $0.0027.
AppSwarm’s New HIVE Division to Focus on Blockchain, Data Security, Recruiting, and Application Development
In light of the gains made by the stock on Thursday, it may now be good to take a look at the latest development. The tech company is also involved in cybersecurity, NFTs (non-fungible tokens), digital marketing, and cryptocurrencies in addition to mobile app development. Yesterday, the company announced that it had launched the HIVE initiative with the view of creating as well as promoting the growth of technology in Tulsa.
In this context, it may be important for investors to actually take a look at what HIVE is actually all about. HIVE is the state-of-the-art tech research lab and production house that has been established by AppSwarm for the purpose of bringing together intellectual, creative and technologically proficient minds.
HIVE is a startup accelerator that has come up with unique strategies for the purpose of benefitting the startups it would incubate. One of the more important functions that HIVE performs is that of a bridge between the investment ecosystem and the developers. In addition to that, it ought to be noted that thrust is specifically geared towards the fast growing blockchain protocol development space.
On the other hand, HIVE is also going to be involved in the development of mobile applications for both the entertainment and business segments. Integration of cryptocurrency strategies in mobile applications remains one of the goals of HIVE as well. As one can see, it is an ecosystem that could eventually unlock a lot of value not only for the fast-growing blockchain and crypto spaces but also for AppSwarm shareholders in the long run.
Christopher Bailey, who is the Chief Executive Officer of the company, spoke about the latest move from the company as well. He noted that the company had created Tulsa Tech Hive with the purpose of replacing TulsaLabs. The former is referred to as HIVE by the company. He went on to state that the company was currently in the process of further broadening the scope of its platform in order to add new developers. 2022 is expected to be a new year of strategic partnerships and potential growth for AppSwarm by way of this particular initiative.
Bailey actually noted that 2022 could well prove to be the strongest year in the company’s history. At this point in time, it may be a good idea for investors to consider adding the AppSwarm stock to their watch lists and watch for further developments.
Technical Data
SWRM stock is trading above the 20-Day and 50-Day Moving averages of $0.0024 and $0.0023 respectively. However, the stock is trading below the 200-Day moving average of $0.0058. The company has a total market capitalization of $3.15 million. The stock is up 33% over the past month.
