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What Caused Iveda (IVDA) Stock To Skyrocket 51%?

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During the last session, Iveda Solutions Inc (OTCPINK: IVDA) surged 51.0% to $0.6200. Iveda stock has ranged from $0.4505 to $0.6200. IVDA stock has market cap is $38.60 million, with 62.25 million shares outstanding. IVDA stock rose as the company is currently working on a multimillion-dollar deal with an airport.

In what capacity did that contract apply?

Iveda provides video surveillance systems that are fully integrated with smart sensors and intelligent video search technologies. With its smart devices and Iveda AI intelligent video search technology, IvedaPinpoint and IvedaHome IoT (Internet of Things) platforms, IVDA is a worldwide provider of video surveillance products.

The IVDA uses programming algorithms and a command center for big data storage. As a Qualified Anti-Terrorism Technology Provider from the US Department of Homeland Security, IVDA has a SAFETY Act Certification. IVDA has a subsidiary in Taiwan and its headquarters are in Mesa, Arizona.

Iveda recently announced that it had agreed to sign a USD1.5 million agreement with Taiwan Taoyuan International Airport.

  • Taiwan Taoyuan International Airport serves northern Taiwan and Taipei.
  • The airport is Taiwan’s biggest and busiest.
  • The project scope for IVDA will include a power monitoring system for the airport’s 161KVA high voltage transformer station as well as a facility management system expansion.
  • IVDA has expected the project to begin last month.

What plans does IVDA have?

Iveda (IVDA) plans to build a new SCADA (supervisory control and data acquisition) system using a metasystem database at the airport in collaboration with Siemens. As part of IVDA’s mission, the goal is to reduce functional limitations and improve alerting systems so anomalies can be detected early.

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