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      American Virtual Cloud Technologies Inc. (AVCT) Continues its Bullish Course After Hours. What’s New? - Stocks Telegraph

      By Gule Rukhsar

      Published on

      March 22, 2022

      4:28 AM UTC

      American Virtual Cloud Technologies Inc. (AVCT) Continues its Bullish Course After Hours. What’s New? - Stocks Telegraph

      On March 21, American Virtual Cloud Technologies Inc. (AVCT)’s Kandy Communications business unit announced its upcoming participation in the Enterprise Connect 2022 Conference & Expo: Let’s Re-connect!. Consequently, AVCT continued its bullish course throughout the day with a further 22.77% gain after hours.

      During the regular session, the stock was able to increase by a nice 10.33% at a volume of 23.92 million shares. At the close of the session, AVCT had a value of $1.01 per share while the volume of the shares exchange remained above the average. The stock continued its uptrend into the after-hours as it added a further $0.23 or 22.77%. Hence, the stock was trading at a price of $1.24 per share in the after-hours while 8.92 million shares exchanged hands.

      The IT solutions provider, American Virtual Cloud Technologies Inc. has a market capitalization of $81.52 million. Currently, the company has 89.05 million shares outstanding in the market. With a gain of 40.02% in the past five days, AVCT stands at a year-to-date loss of 58.44%. Moreover, the stock subtracted a value of 82.25% in the past year.

      Upcoming Conference Participation

      Source: Inc. Magazine

      Enterprise Connect 2022 Conference & Expo Let’s Re-connect! Will take place from March 21 to 24, 2022 in Orlando, FL. Kandy, which is a global leader in secure and intelligent cloud communications will showcase its latest offerings at the conference. Kandy’s latest offerings, ready for demo at the event include Unified Communications as a Service (UCaaS), Microsoft Teams Direct Routing as a Service (DRaaS), SIP Trunking as a Service (STaaS), and Communications Platform as a Service (CPaaS).

      In addition, Kandy will also be featuring recent innovations from its key partners at the event.

      AVCT’s Other Developments

      On March 18, AVCT announced the joining of a new open source project “CAMARA – The Telco Global API Alliance” by Kandy. The partnership is aimed at addressing hurdles in porting and reproducing API services across heterogeneous operator and cloud architectures. CAMARA is introduced by The Linux Foundation and GSMA for helping customer and developer ecosystems.

      Furthermore, on March 16, the company announced the completion of the sale of its Computex Technology Group business to Calian Group Ltd. The sale resulted in the transition of the company to a pure-play cloud communications and collaboration company focused on the Kandy platform. Additionally, the proceeds combined with those from a recent securities purchase agreement left AVCT debt-free.

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