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      uCloudlink Group Inc. (UCL) stock is jumping high to 97.30% – What’s happening? - Stocks Telegraph

      By Mahrukh Rehan

      Published on

      February 8, 2022

      5:19 AM UTC

      uCloudlink Group Inc. (UCL) stock is jumping high to 97.30% – What’s happening? - Stocks Telegraph

      uCloudlink Group Inc. (UCL) experienced an increase of 97.30% in aftermarket despite any official news released by the company. However, the last trading session closed at $1.48 with a decrease of 4.52%.

      Private Placement of US$5.0 Million – What’s up?

      On 6th January 2022, UCL announced that the company had made an agreement with YA II PN, Ltd. According to this agreement, UCL can sell or issue convertible debentures in accordance with the amount of US$5.0 million and a purchase price equivalent to 95% of the actual amount.

      Third Quarter 2021 Results by UCL – How was the quarter?

      UCL reported the unaudited third quarter 2021 results on 30th November 2021. The company experienced total revenues of about $19.3 million with a gross profit of $5.5 million. Moreover, the non-GAAP adjusted loss came out to be $6.0 million and the non-GAAP adjusted EBITDA reported was around negative $5.4 million. Last but not the least, the company had to undergo a net loss of $7.0 million.

      Now what?

      In June 2021, UCL introduced Hyperconn. It is a revolutionary technology solution that enables UCLOUDLINK to provide greater data connectivity and accelerates the 5G Cloud future. The company plans to use this cutting-edge technology to bring new goods to market. Moreover, during the third quarter of 2021, UCL supplied the Hyperconn technology solution and products to various markets. The company is also planning to launch some new products in the market. These new goods will aid in the continued growth of the 2.0 business.

      Furthermore, the physical retail channels and e-commerce platforms have sold the Hyperconn technology solution and products. The products have gotten favorable reviews and are increasingly recognized and valued by a growing number of users across a variety of industries. Not only this but the company applied the cutting-edge Hyperconn technology to a variety of application scenarios. Lastly, the company feels that as technology advances in the technology age, people’s priorities have evolved from basic network connection availability to better and higher-quality connectivity, and they are committed to offering good connections for everybody.

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