American Virtual Cloud Technologies (AVCT) Jumps 141.50% Past Month

After announcing Q2 financial statements AVCT became a penny ‘hot spot’ stock for retail investors who increased its daily volume to cosmic highs. Last Friday’s session the stock grew 8.43% on 302,068,880 shares without news when most stocks were bleeding.

Today its market cap reaches $30 million. At the beginning of 2021 American Virtual Cloud Technologies received a buyout offer of $9 per share. The deal was not closed but AVCT went volatile since then. Investors obviously have given up on it.

Upon its acquisition of Kandy service, top-line growth has emerged. As the cloud services industry thrives now AVCT might keep growing in revenue and earnings as well.

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