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.