DarkPulse Inc (OTCMKTS:DPLS) Stock In Bullish Trend: Signs JV Agreement
Tech company DarkPulse Inc (OTCMKTS:DPLS) is largely focussed on laser sensing systems and in recent days, its stock has garnered considerable attention among investors. Yesterday, the stock managed to clock considerable gains and jumped by 9% amidst heavy interest.
Market Stats
On Tuesday, DPLS stock went up 10.20% to $0.0608 with more than 21.43 million shares, compared to its average volume of 30.75 million shares. The stock moved within a range of $0.0516 – 0.0609 after opening trading at $0.0555.
DarkPulse, Inc Signs JV Agreement with Egyptian Infrastructure Construction and Engineering Firm
The jump in the stock price took the gains made by the stock in the past week to as much as 43%. In light of such gains, it may be a good idea for investors to actually look into the development from yesterday that led to the gains. The company announced yesterday that it had signed an agreement with the Egyptian Electrical and Mechanical Works Co for a joint venture.
As per the provisions of the joint venture agreement signed between the two companies, they are going to set up an Egyptian corporation that is going to be owned jointly. In addition to that, the revenues from the new companies are going to be split equally between the two firms. The announcement came as a source of considerable optimism among investors and it led to the rally that was seen in the stock on Tuesday. It now remains to be seen if the stock can continue to hold on to its momentum in the coming days.
Key Quote
“The Middle East is leading the world in the creation of smart cities. Egypt is particularly of interest with their New Cairo smart city project and an additional 16 smart cities slated to be built. These major projects rival cities such as Dubai and the planned NEOM project,” said Dennis O’Leary, Chairman and CEO of DarkPulse. “
Traders Corner
DPLS stock is trading above the 20-Day and 50-Day Moving averages of $0.0451 and $0.0464 respectively. However, the stock is trading below the 200-Day moving average of $0.0799.
