Borqs Technologies (BRQS) Stock Soars 45%: What’s The Buzz?

The Borqs Technologies (NASDAQ:BRQS) stock was one of the major gainers on Wednesday and ended the day with handsome gains of as much as 45%. While the gains may have brought the stock into focus, it is imperative for investors to remember that there was no news about the company yesterday.

In this situation, it is perhaps prudent to take a look at Borqs Technologies’ business a bit more closely. The company is involved in the Internet of Things (IoT) space and is involved in the development of products related to that space.

It had been established back in 2007 and since then it has been involved in developing smart products that can be connected to Android powered smart phones. A decade after its establishment, the company went public in 2017 and currently its shares are available on the NASDAQ exchange. At this point in time, the company has a number of research centers, which spread across South Korea, United States, China and India.

One of the reasons why the stock might have come into focus among investors could be the considerable social media buzz around Borqs. At this point, investors could do well to keep the stock in their watch lists.

Market Reaction:

On Wednesday, BRQS stock soared 45.70% to $1.45 with more than 227.58 million shares, compared to  its average volume of 2.93 million shares. The stock has moved within a range of $ 1.2100 – 1.6000 after opening the trade at $1.39. Over the past 52-week, the stock has been trading within a range of $0.8100 – 3.3500.

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