COMSovereign Holding Corp (NASDAQ:COMS) Stock Rockets After Launching a New Technology
COMSovereign Holding Corp (NASDAQ:COMS) is involved in the development of both 5G and 4G LTE communication systems in the United States and on Wednesday, the company’s stock was in sharp focus following a key announcement.
Market Stats
On Wednesday, COMS stock soared 19.67% at $1.46 with more than 10.14 million shares, compared to its average volume of 1.17 million shares. The stock has moved within a range of $1.1600 – 1.6000 after opening trading at $1.22.
Introduces Lextrum ASTARA™ Electronically Reconfigurable Antenna Technology
Yesterday, the company announced that it had been successful in completing the testing of its Over The Air path breaking self-interference cancellation technology named Lextrum In-Band Full Duplex. The announcement came as a major boost for the COMSovereign stock and it ended the day with gains of as much as 20% as investors piled on to it in a big way.
In light of the gains made by the COMSovereign stock on Wednesday, it is quite likely that the stock is going to come into considerable focus among investors today as well. Hence, it might actually be a good idea for investors to keep the stock in their watch lists today.
Now that the testing has been completed, the company is going to introduce a new technology named Adaptive Simultaneous Transmit and Receive Antenna or ASTARA. The technology can help operators of wireless networks to get benefits from the Lextrum In-Band Full Duplex fairly quickly and it signifies another substantial step for COMSovereign.
Key Quote
Dr. Scott Velazquez, Chief Research Officer at COMSovereign, said, “ASTARA™ is a breakthrough in spectral efficiency and is a critical enabling technology for practical IBFD communications working across the most widely deployed frequencies including C and S bands which are crucial to emerging 5G deployments. Lextrum’s IBFD essentially doubles the data capacity of communications by using the same frequency band for simultaneous transmission and reception (STAR), and with the introduction of this new antenna technology, we are able to provide the telecommunications industry with a valuable new solution that addresses efficient spectrum usage, one of the most significant challenges they face.”
Traders Corner
COMS stock is trading below the 50-Day and 200-Day Moving averages of $1.49 and $2.30 respectively. However, the stock is trading above the 20-Day moving average of $1.34. The stock is up 25% in the past month.
