24/7 Market News Snapshot 26 September, 2024 – Datasea Inc. Common Stock (NASDAQ:DTSS)

September 26, 2024

DENVER, Colo., 26 September, 2024 (247marketnews.com) – (NASDAQ:DTSS) are discussed in this article.
Datasea Inc. (DTSS) has garnered significant market attention following a notable surge in its stock price, which opened at $2.03 and climbed to $2.54, reflecting an impressive increase of 25.74%. The rise follows a previous close of $2.02, with current trading volume reaching 1.19 million shares, indicating robust investor interest and confidence in the company’s growth trajectory.

Simultaneously, Datasea has reported substantial financial results for the fiscal year ending June 30, 2024. The company experienced a remarkable revenue boost of approximately 558.6%, soaring from $3.6 million in fiscal 2023 to around $24 million. This growth is largely driven by the expansion of its 5G AI multimodal digital business, which has successfully captured considerable market share.

Financial stability is further underscored by Datasea’s absence of noncurrent liabilities and a capital reserve now totaling about $39 million, marking an increase of nearly 61.3% year-over-year. This strong financial footing equips the company to pursue ambitious growth initiatives and invest in ongoing technological innovations.

Zhixin Liu, CEO of Datasea, expressed enthusiasm for the company’s achievements, emphasizing its commitment to leveraging advancements in 5G and AI to enhance customer experiences. The integration of diverse formats—such as text, sound, images, and video—into their 5G AI multimodal platform significantly boosts customer engagement through automated marketing and real-time data processing.

Additionally, Datasea is expanding its acoustics segment globally by forming strategic partnerships with established retailers to enhance product distribution. The launch of innovative products, including the “Datasea Tianer” series, showcases the company’s dedication to addressing market demands across various sectors, including health technology and environmental sustainability.

With over $100 million in ongoing 5G-AI contracts, Datasea Inc. is strategically positioned to lead transformative efforts in the digital technology landscape, capitalizing on the increasing demand for 5G solutions and advanced acoustic technologies.

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