Why Gorilla Technology Stock Skyrocketed This Week
Week to date, shares of Gorilla Technology Group (NASDAQ: GRRR) were up 48% as of 10:25 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
The provider of artificial intelligence-based edge video analytics and cybersecurity announced that a Middle Eastern government agency is looking to use the company's technology for one or more smart cities under development.
Gorilla stock started trading in July after combining with Global SPAC Partners -- a special purpose acquisition company. The transaction provided about $45 million for Gorilla to put together a management team and begin going after opportunities in the video analytics and cybersecurity markets, which have been exploding as organizations deal with escalating threats.
Source Fool.com
