CORAL GABLES, FL / ACCESSWIRE / March 8, 2019 / The future of tech stock market is dependent on whether companies in the tech industry are prepared to meet the growing demands of society with innovative technologies and creative solutions. Over the course of the last few months, we've seen tech companies cause quite a commotion in the market because of their determination to use design-thinking and strategically develop products and ideas for the betterment of consumers. It's no longer a question of how interesting an idea is, but rather is it meeting the expectations of the consumer and does it provide a solution to a societal need? If companies in the tech sector can answer these questions and demonstrate their commitment to the future, this may catalyze investor interest in the coming months. ParcelPal Technology Inc (PTNYF) (PKG), MicroVision Inc (MVIS), Pulmatrix Inc (PULM), and Xunlei Limited (XNET) represent 4 tech stocks on the rise on Friday.
ParcelPal Technology Inc (PTNYF) (PKG) is a technology-driven logistics company purposed with connecting consumers to the goods they love. The Company recognized that consumers no longer have the time in their day to dedicate to buying groceries or other items, so ParcelPal created an on-demand marketplace where consumers can buy what they need and have it delivered by a ParcelPal courier within the hour.
Towards the end of last month, ParcelPal Technology Inc (PTNYF) (PKG) announced that Brian Storseth had joined the Company as Chairman of the Board of Directors. Prior to his work with ParcelPal, Mr. Storseth was a Member of Parliament (MP) for the electoral district of Westlock-St Paul for the Conservative Party of Canada for 9 years from 2006-2015. During his tenure as an MP, he served on committees for Aboriginal Affairs, Agriculture and Agri-food Canada.
Following the announcement, Kelly Abbot, President, and CEO of ParcelPal Technology Inc (PTNYF) (PKG), said, "Brian is an incredibly accomplished business leader and policy expert, having spent 9 years in Ottawa in the House of Commons. He is intimately familiar with ParcelPal's business, our plans for future expansion and will be an invaluable asset moving forward as we navigate multiple opportunities across various Government entities, namely within the Ontario market. We are excited to leverage his network, experience, and leadership to assist with our national expansion plans."
MicroVision Inc (MVIS), a leader in innovative ultra-miniature projection display and sensing technology, announced earlier this week results for the quarter and full year ended December 31, 2018. Per the details of their results, the Company's revenue or the fourth quarter of 2018 was $1.8 million, compared to $2.3 million for the fourth quarter of 2017.
Following the announcement, Perry Mulligan, CEO of MicroVision, said, "we made tremendous progress in 2018 and are very excited by the sales opportunities we have for 2019. By advancing our core technology, products, company culture and our ability to execute we have positioned the company to deliver our technology and solutions to multiple OEMs in 2019."
Pulmatrix Inc (PULM) announced its 2018 financial results, as well as an outlook for its pulmonary disease development pipeline in mid-February. According to their announcement, the Company received authorization of its Clinical Trial Application from the UK Medicines and Healthcare Products Regulatory Agency to initiate its first-in-human study for Pulmazole in 2018.
Robert W. Clarke, Chief Executive Officer of Pulmatrix, stated, "the funds raised in January and February have extended our cash runway, allowing us to evaluate potential strategic partnership opportunities relating to our pipeline programs. Pulmatrix continues to advance its iSPERSE-based product candidates with a focus on our Pulmazole program that targets fungal infections for severe asthma and cystic fibrosis patients,"
Xunlei Limited (XNET), a leading cloud-based acceleration technology company in China, yesterday announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2018. Per their results, the Company's total revenue was $42.3 million, representing a decrease of 6.6% from the previous quarter.
In the first few months of 2019, the Company unveiled a conceptual phone-based shared-computing smart device, OneThing Cloud mini, at Consumer Electronics Show 2019. The new conceptual product, OneThing Cloud mini, is designed to aggregate idle computing resources from spare smartphones and to convert these resources into enterprise-level cloud services.
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