The market closes soon, and if Deveron UAS Corp. (CSE:DVR) continues to climb, it might end the trading day up almost 30%. But why? That’s a good question, as the Toronto-based company hasn’t actually announced anything today that would explain the jump.
There’s a lot going on in the world today. While President Trump is ranting on Twitter – once again -about Fake News and how “dangerous” the southern border is, others are watching to see if Bitcoin can maintain the slight growth it saw yesterday, trading above the $14,200 mark.
Meanwhile, I am watching to see if Deveron UAS Corp. can maintain the increase its stock is witnessing today. As of this writing, Deveron Corp. is trading at $0.38, which puts the stock up $0.08, or 26.23% on the CNSX exchange.
Tuesday’s Trading Session
Deveron UAS Corp. has had a successful couple of months, so the jump might have been caused by the optimism of the market. Just last week the drone data service company announced that it had obtained First Canadian Capital Corp., which is a well-known investor relations firm, in order to provide a number of services that will expand Deveron UAS Corp.’s investor base. The services will include strategic communications as well as investor relations.
Though the Canadian company has been quite busy as of late, from announcing last month that a number of notable industry leaders joined its advisory board – such as Art Froehlich and David Sippell – to disclosing in September of last year that Bonduelle (EPA:BON) had chosen Deveron as its preferred drone data partner.
However, I think it’s more likely the stock jumped today because of the news announced last week. The partnership between the two companies will allow the two companies to thrive, with Deveron UAS Corp. receiving investor relations and market awareness services, and First Canadian receiving $6,000 in monthly fees for a term of three months.
It seems that First Canadian is just as optimistic about it all as the market is, with its Vice President George Aizpurua coming forward and stating that First Canadian is looking forward to working with the Deveron team as it is “much more than just drone technology,” calling the company a “leader in the agriculture tech world.”
For those who don’t know, Deveron UAS Corp. is a company that focuses primarily on forming relationships with farmers, offering them the chance to grow yields and cut costs. How? The company offers a number of software solutions and analytics to do so.
What do you think of the latest announcement?
Featured Image: twitter
