On March 18, shares of View Inc. (VIEW) remained bullish in the premarket session with a gain of 19.05% at the last check. The stock has been on a bullish roll since the company announced its smart window installation at Uplands Corporate Center, on March 16, 2022.
In the previous trading session, the stock fluctuated between a high of $1.93 and a low of $1.57. VIEW closed the session at a value of $1.89 per share, gaining a nice 13.86%. The volume of the shares traded during the session remained above the average at 2.59 million. In the premarket today, the stock was trading at $2.25 per share at the time of writing. With just 95.7K shares trading, the session is highly volatile so far.
The technology company, View Inc. designs smart windows and buildings. Currently, the company has a market capitalization of $360.35 million with its 51.1 million shares outstanding. Having declined by 51.66% year to date, VIEW has added 37.96% in the past five days. Moreover, the stock suffered a loss of 77.97% last year.
VIEW’s Latest News
On March 16, the company announced the installation of its Smart Windows at Uplands II. Uplands II is a premium office building in Southwest Austin, Texas.
Designed with tenant health, wellness, and building stability in mind, the recently developed Uplands II is Uplands Corporate Center’s second building. VIEW’s Smart Windows have been fitted through the building for a healthier environment that is energy efficient and provides maximum natural light.
View Smart Windows are designed to adjust in response to the sun through AI while minimizing heat and sun glare. The windows have proved to decrease lighting and HVAC energy consumption by up to 20% for the buildings it is installed in.
Upcoming Nasdaq Hearing
On March 08, the company announced being granted a hearing for March 31, 2022, from Nasdaq. The company will present its plan for regaining compliance with the applicable listing requirements during the hearing.
Furthermore, VIEW has also been granted an extension of its suspension and delisting stay from the Nasdaq Hearings Panel. Thus, the company’s delisting process has been stopped until Nasdaq makes a determination after the hearing on March 31.
VIEW’s Financial Update
On March 7, the company reported a cash balance of $281 million as of December 31, 2021. With no significant debt on its balance sheet, the company hopes to improve its balance sheet and statements in 2022.
