STOCKS TELEGRAPH

Tag: TAOP stock

  • What Do You Think Is Driving TAOP Stock Higher?

    At last check, the provider of blockchain technology and smart cloud services, Taoping Inc. (TAOP) shares were trading at $4.72, up 1.94% in pre-market trading. Taoping stock lost -4.73% to close Thursday session in the red at $4.63. TAOP stock moved 0.16 million shares, which was less than the average volume of 0.34 million shares over the past 50 days. Last week, shares of TAOP decreased by -1.49%. TAOP shares have increased by 62.46% over the past 12 months.

    The TAOP stock has lost -49.18% in the past three months, but over the past six months, it has gained 58.02%. TAOP currently has a market capitalization of $59.36 million and an outstanding share count of 7.67 million. A promotion in the management team and a business update helped boost the price of TAOP stock.

    TAOP has shared what?

    Taoping Group is a conglomerate of technology and financial companies with offices in Hong Kong, Mainland China, and other foreign countries. TAOP provides research and development solutions and cloud services to a variety of industry sectors, including educational, new media, artificial intelligence, and asset management. TAOP is unique owing to its strengths in cloud technology and chip supply chain. TAOP conducts research on and applies blockchain technology worldwide along with investing and managing financial assets.

    Taoping provided an update on its business today, in addition to announcing Huan Li’s promotion to the position of Chief Marketing Officer who is currently serving as Digital Culture Business director.

    • Li will be responsible for all marketing activities for TAOP, including product marketing, brand strategy, direct marketing, data analytics, data integration, and marketing operations.
    • In addition to being a market expert and a strong market developer, Mr. Li has demonstrated strong leadership skills since joining TAOP in March.
    • TAOP’s expansion strategy will be executed effectively under the leadership of Mr. Li.
    • Business Updates:
    • TAOP completed its acquisition of Taoping New Media on June 9, 2021.
    • As of June 2021, TAOP anticipates booking advertising revenues.
    • TAOP attended the Asia OOH 18th China Outdoor Communication Conference in Chengdu, China on June 24-26, 2021.
    • In addition to the “Top Media in Shopping District” award, TAOP also received a mention for its innovative use of digital transformation and multi-scene advertising during the conference.
    • TAOPO is working diligently with relevant Canadian authorities to complete the review of the previously announced acquisition of Render Lake as soon as possible, and have cooperated fully with the authorities to date.

    TAOP’s Digital Plans:

    TAOP’s NFT business is proceeding as planned, and the Company does not expect its NFT business to be negatively impacted by China’s recent ban on digital asset mining. Taoping (TAOP) is effectively operating its G Cloud data centers in Hong Kong and Dongguan. To expand its footprint in overseas locations, TAOP is actively seeking locations across the world.

  • Taoping Inc. (TAOP) stock rises during current market trading. Why is it so?

    Taoping Inc. (TAOP) stock rises during current market trading. Why is it so?

    Taoping Inc. (TAOP) stock rises by 10.35% in the current market trading session after Taoping announced that it has got into a share purchase agreement with Genie Global limited. Taoping is a major manufacturer of smart display terminals and applications for targeted advertisement and online commerce. Customers can distribute and monitor advertisements on cloud-based ad display screens using TAOP’s integrated end-to-end digital advertising solutions.

    Recent Developments.

     

    TAOP joint venture with Genie Global Limited

    Today on March 31, TAOP stock has announced it has got into a share purchase agreement with Genie Global Limited to gain a 51 percent equity interest in Render Lake Tech Ltd that is Genie Global’s wholly owned subsidiary. Render Lake is a cloud technology service provider dedicated to delivering high-performance cloud computing solutions for special effects companies. It was established in 2019 in Ontario, Canada.

    Simultaneously TAOP stock also made an important announcement that they have established NFT Business Division. For this TAOP has appointed Qian Wang as Chief Investment Officer of TAOP, also as the director of NFT Business Division and general manager for Render Lake. Mr. Qian Wang is well known for his expertise in cloud computing services, Blockchain applications and operations, and also for overseas capital market operations.

    TAOP stock closed a strategic cooperation deal

    On March 30, TAOP announced that they have signed a strategic cooperation structure agreement with Shanghai Guanghua Education Investment Management and Wuhu Sasan Education Management that is a majority-owned subsidiary of Shanghai Guanghua Education for the time span for next three years. Shanghai Guanghua Education, founded in 1999, is a provider of educational technology services, including educational technology system creation, educational course content development, educational business investment, advisory and management, and technical equipment and stationery sales.

    TAOP and Wuhu Sasan plan to form a joint venture company in Wuhu, China, as part of the deal. Also TAOP stock and Wuhu Sasan will each own 51 percent and 49 percent of the joint venture’s equity, respectively.  The joint venture company’s operations are expected to fall under TAOP’s newly formed Digital Culture Business Division.

    Conclusion

    Following the two major developments in Taoping, the rise in its stock price is fairly justified. If the two agreements turn out to be successful in the near time, it will be highly beneficial for TAOP but right now investors seem to be interested in making long-term bets, hence the TAOP stock price is on the rise.

  • Why is Taoping Inc. (TAOP) Stock fluctuating?

    Taoping Inc. (TAOP) stock went down 10.69% on Thursday, March 19, 2021, but it gained 10.44% in the after-hours session.

    Let’s see what’sthe latest news about TAOP is.

    Launching of Digital Culture Business Division

    On March 18, 2021,Taoping Inc announced a newly-created Digital Culture Business Division. It appointedZhixiong Huang, as director of Digital Culture Business Division concurrently, and Huan Li as Executive Associate Director of the Division. The new division will cover Taoping’s new-media business and education business. The intention behind the Digital Culture Business Division is to build a new interconnected and open platform ecosystem.

    Launching of BlockChain Division

    On March 09, 2021, TAOP announced the launch of a newly-created Blockchain Business Division. Linxi Deng was appointed by TAOP as the director of the new division.

    Appointment of New Chief Strategy Officer

    On March 3, 2021, TAOP appointed Dongfeng Wang as Chief Strategy Officer. Mr. Wang will be responsible for the development of blockchain and digital assets business.

    Selling of aggregate of 500,000 TAOP ordinary shares

    On March 01, 2021, TAOP signed a securities purchase agreement with certain strategic investors. According to the agreement, the TAOP agreed to sell the Investors an aggregate of 500,000 ordinary shares at a purchase price of $6.70 per share. The TAOP will get $3.35 million before deduction from the share sales.

    About TAOP

    Taoping Co., Ltd. a NASDAQ listed company in the United States. It was founded in 1993 in China. TAOP is an Internet company dedicated to the research and application of blockchain technology and digital assets. It also provides services for Internet education and new media industries through cloud application technology.

  • Is It Right Time To Invest In Taoping Inc. (NASDAQ: TAOP)?

    Is It Right Time To Invest In Taoping Inc. (NASDAQ: TAOP)?

    Taoping Inc. (NASDAQ: TAOP), an IT service management company has revealed that it has signed a securities purchased agreement with its investors. Taoping has decided to issue an aggregate of 222,222 ordinary shares, no par value, a convertible note with a principal amount of $1,480,000, and a warrant to purchase 53,333 ordinary shares at $9.0 per share to its investor. The company will receive the gross proceeding of $2.0 million before subtracting estimated expenses.

    Taoping Inc has earlier announced the 1- for 6- reverse stock split of issued ordinary shares. The reverse stock split is planned to increase the per-share trading price of the ordinary shares of the company to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ stock market. Taoping stocks have been garnering attention since the reverse stock split decision.

    The company saw a sharp growth in its early years as it was included in the Deloitte Top 500 High-tech & Fast-growth in the Asia Pacific in 2009 and Forbes Most Promising SMEs in China list in 2011. But the past 15 years was not shown much strength of the company. Its market revenue was below $14 million earlier this year. It has a limited history of selling cloud-based products due to the ongoing pandemic.

    The company disclosed that it is unable to implement a long-term business plan if it is not able to secure additional financing. TAOP is currently unable to predict its future. Investors have not paid much attention to the Taoping stock in recent years.

    Shares of Taoping traded up 8.21% as it gained +0.23 at $3.03 on Friday. In the past 52-weeks of trading, this company stock has fluctuated between the low of $1.86 and a high of $15.00. It has traded up 62.90% from its 52-weeks low and traded down -79.80% from its 52-weeks high. Taoping Inc market capitalization has remained high, hitting $20.51 million at the time of writing.

    Taoping has earlier launched the two new smart screen products including the 43-inch screen and the 55-inch screen. Taoping’s 43-inch has a resolution of 1080*1920 pixels and 55-inch smart screens have a resolution of 3840*2160 pixels. The body of the smart screen is mainly white and is made of glass and metal. Users will be able to manage smart screens remotely and effectively through the Taoping Smart Cloud Platform.