24/7 Market News Snapshot 17 September, 2024 – Datasea Inc. Common Stock (NASDAQ:DTSS)

September 17, 2024

DENVER, Colo., 17 September, 2024 (247marketnews.com) – (NASDAQ:DTSS) are discussed in this article.
Datasea Inc. (NASDAQ:DTSS) is experiencing a substantial surge in market interest, with the stock recently opening at $2.27 and climbing to an impressive trading price of $3.266, reflecting a remarkable increase of 44.19%. Following a close of $2.265, the stock recorded a trading volume of 37.37 million shares, underscoring robust investor enthusiasm and indicating a significant shift in market momentum as DTSS captures attention among traders.

Complementing this positive market activity, Datasea has announced a major advancement in its strategic positioning within the burgeoning 5G-AI sector. On August 12, 2024, the company’s subsidiaries, Shuhai Information Technology Co., Ltd. and Guozhong Times (Beijing) Technology Co., Ltd., entered into a pivotal agreement with Qingdao Ruizhi Yixing Information Technology Co., Ltd. This collaboration is expected to yield a total estimated value of approximately $30 million over the next year, with services worth about RMB 65.4 million (around $9 million) already being delivered, indicating strong demand for innovative 5G-enhanced solutions.

Zhixin Liu, CEO of Datasea, emphasized the significance of these agreements, stating, “These agreements signify our continued success in providing top-tier digital services and reinforce our goal of becoming a leading provider of 5G-AI multimodal digital services.” The partnership positions Datasea to enhance its growth trajectory significantly, thus impacting its financial performance positively in fiscal 2025.

Looking forward, Datasea’s proactive marketing of its advanced product offerings sets the foundation for potential future contracts, reinforcing its status as a leader in the evolving digital services landscape. This strategic move not only extends the company’s reach but also enhances its innovative capabilities within the competitive 5G application market.

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