Iveda Solutions Inc (OTCMKTS:IVDA) Stock Moving Towards A New High: What Next?
Iveda Solutions Inc (OTCMKTS:IVDA) stock has been one of the biggest gainers in the past week with a jump of 40%. Will the stock resume another round of rally?
Market Action
In Tuesday’s trading session, IVDA closed higher by 7% to $0.81. More than 93k shares have exchanged hands, above its average volume of 53k shares. The stock opened at $0.78 and moved in a range of $0.7735 – 0.8395.
Iveda Receives Strategic Investment from Bell Limited Partnership, Explores Potential Distribution Channel in Japan
Here are the highlights:
Iveda Solutions announced that it closed a strategic investment from Bell Limited Partnership.
Bell Limited Partnership is a Malaysia-based private equity investment fund. They invest in emerging growth companies that are creating great global technological impact. Its goal is to make a meaningful difference to the portfolio success through a robust investment process with long-term holding and enhanced market expansion assistance in Asia.
Iveda first engaged with the group through one of its senior partners from Japan, seeking to potentially use IvedaAI for a specific retail chain application in Japan. IvedaAI provides intelligence to video surveillance systems with its face recognition, license plate recognition, object search, vehicle/people counting and other video analytics. The first IvedaAI appliance shipped to the customer recently.
Key Quote:
“We bet on the jockey, not only the horse; and we’re very excited to have made this strategic investment into Iveda because of its huge global revenue potential and technology leadership,” stated Dan Choi, senior partner of Bell Limited Partnership. “Their management team is genuine and unwavering at all times with a passion to bring an unparalleled level of realism that only true leaders of the industry would. The real-world applications of Iveda’s technologies and industrial expertise are what impressed us,” added Choi.
