The stock market has been on a bit of a tear in recent days and many companies have seen their stocks soar during the period. One of the major gainers on Wednesday was the Strikeforce Technologies Inc (OTCMKTS:SFOR) stock, which rallied by as much as 75%.
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Considering the sort of gains made by the company, it could be a good idea for potential investors to perhaps take a closer look at StrikeForce.
Strikeforce Technologies Inc (OTCMKTS:SFOR) is involved in protecting organizations and individuals from security breaches and cyber theft. StrikeForce also provides mobile solutions. The latest rally in the stock is primarily linked to an announcement from StrikeForce.
Earlier this week the company provided an update with regards to its product SafeVChat, which is a secure video conferencing platform. StrikeForce announced that SafeVChat is all set to be available for users from the 18th of next month.
More importantly, the company also revealed that it has already lined up distribution partners in as many as six nations. However, that is not all. It was also announced by StrikeForce that it is also looking for direct funding in order to expand its services to big-ticket companies that are part of the Fortune 500.
The coronavirus pandemic has caused millions of people all over the world to work from home and consequently, the demand for secure video conferencing platforms has gone up considerably.
However, as pointed out by StrikeForce in its announcement, security has been a major issue for many of the more popular video conferencing platforms. SafeVChat is a product that has been designed with a keen eye on privacy and data protection.
People share confidential information regarding their businesses on video conferences and hence, there could be a lot of demand for a secure video conferencing platform like SafeVChat. Hence, it could be a good idea for investors to keep an eye on this stock over the coming days.
Disclaimer: We hold no interest in SFOR stock.