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WISeKey Inc. (WKEY) stock rises during pre-market. Here’s what has happened?

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WISeKey Inc. (NASDAQ: WKEY) stock showed a jump of 64.37% in last trading close whereas during the pre-market the WKEY stock declines by 14.37%. This irregular up and down of WKEY stock price has been observed after WISeKey announced the development of its new application i-e Non Fungible Tokens application. WISeKey is an international level cybersecurity company currently working on deploying digital identity ecosystems for people and objects that uses blockchain AI and IoT respecting the Human as the power of the Internet.

So what?

WKEY announcing the development of its new Non fungible tokens application is basically made on high-scalable blockchain infrastructure which is supported by proprietary Digital Identification technology that ensures security, authenticity and also proves the possession of tangible and digital assets. WISeKey has decided to include the NFT feature in its WISeAuthentic Platform that certainly uses an authentic method for digital certification of the genuineness of a physical object and corresponding computer program and storage device. 

Other Recent Developments.

  • On 16 March 2021, WKEY announced that they have signed a Memorandum of understanding (MoU) with the Government of Seychelles which was officially represented by the Department of Information Communications Technology (DICT). This is to start a project for the development of an innovative Digital Identity platform for Seychelles, and this platform will be integrated with different national initiatives such as tourism and health and especially eGovernment.
  • Another recent development in the WISeKey Inc. is that they have released a VaccineTrusts platform which is based on PKI Digital Certification technology. The VaccineTrusts platform incorporates Digital Vaccination Certificates (DVC) provided by a variety of third trusted parties and is intended to be used as proof of vaccination for those who have received coronavirus vaccines. WKEY has already been approached and selected by the International Air Transport Association (IATA) as their technology partner to provide security to their ONE record test platform.

Conclusion

These recent positive developments have definitely played their role in hyping up the stock but clearly, the rise in WKEY stock did not sustain for a long time which shows that the investors are might not be completely sure about investing in WKEY stock as of now. Because of uncertain WKEY stock price we cannot give one final statement about WISeKey’s performance.

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