24/7 Market News Snapshot 10 October, 2024 – Datasea Inc. Common Stock (NASDAQ:DTSS)

October 10, 2024

DENVER, Colo., 10 October, 2024 (247marketnews.com) – (Nasdaq:DTSS) are discussed in this article.
Datasea Inc. (Nasdaq:DTSS) has demonstrated significant momentum in the stock market, opening at $2.31 and currently trading at $2.665, reflecting a notable gain of approximately 19% from the previous closing at $2.240. With a trading volume of 879.19K shares, the heightened investor interest signals strong buying pressure, potentially leading to a breakout as resistance levels around $2.70 are tested. However, traders are advised to remain vigilant for volatility resulting from these substantial price movements.

In addition to this market performance, Datasea has reported impressive anticipated revenue growth for the first quarter of fiscal year 2025, forecasting revenues of approximately $22.7 million, a staggering increase of about $15.8 million or 230% compared to $6.88 million during the same period last year. This projected revenue nearly equals Datasea’s total revenue of about $23.98 million for the entire fiscal year 2024.

Contributing to this remarkable performance is the heightened development of Datasea’s 5G AI multimodal digital business, which has been propelled by several major service contracts secured with prominent clients since August 2024. CEO Ms. Zhixin Liu expressed optimism regarding these developments, emphasizing a commitment to product diversification, key customer base expansion, and continual technological innovation to sustain growth.

Moreover, Ms. Liu underscored the positive reception of the company’s acoustic high-tech products, designed to foster healthier environments, which has been instrumental in driving demand and recognition. Datasea remains dedicated to harnessing advanced technologies to serve its enterprise and retail customers effectively, positioning itself for continued strategic expansion in the competitive digital landscape.

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