On Thursday, JZZ Technologies Inc (OTCMKTS:JZZI) had come into focus among investors and its stock emerged as one of the notable gainers as it ended up with gains of as much as 8% for the day. The company announced yesterday that it had got an independent evaluation of the proprietary marketing database that it possesses and it had been indicated that the monetary value of the entire record set stood at more than $35 million.
Trading Data
On Thursday, JZZI stock rose 7.69% to $0.0014 with more than 23.17 million shares, compared to its average volume of 5.84 million shares. The stock moved within a range of $0.0013 – 0.0016 after opening trade at $0.0014.
JZZ Technologies, Inc. Receives Increased Assessment of Its Database Asset Value of Over $35 Million
It should be noted that the latest valuation of the company’s database is also inclusive of all the latest record sets that had been added to the database by JZZ Technologies. The total number of data sets now includes as many as 100 million records.
The latest valuation proved to be a source of optimism for investors and that was possibly the reason for the rally that was witnessed in the stock yesterday. That being said, it is also important for investors to note that although the assessment had been made by an independent industry expert, it was an unaudited one. The Chief Executive Officer of the company, Charles Cardona, noted that the company was starting to comprehend the possible value of it portfolio and the revenues that it could bring in.
Key Quote
“We are beginning to realize the value of our digital asset portfolio and its potential impact on our revenue”, says Charles Cardona, CEO of JZZ Technologies, Inc. “Using our proprietary database, we can offer real value for advertisers and partnership opportunities. The base value of our digital data asset has increased considerably since we received an initial assessment last year. That is a direct reflection of our efforts to grow our value on a mass scale.”
Technical Data
JZZI stock is trading below the 20-Day and 50-Day Moving averages of $0.0014 and $0.0015 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0036.
