Investors are always drawn to stocks that make a big jump out of nowhere. So it’s no surprise that Sysorex Inc (OTCMKTS:SYSX) stock has remained in the headlines.
The stock soared by as much as 610% last week after the company announced that it was successful in having completed a reverse triangular merger.
In light of such spectacular gains made by Sysorex Inc (OTCMKTS:SYSX), it might be a good idea for investors to perhaps take a closer look at the developments. Last Wednesday, the company announced that it completed the reverse triangular merger with the firm TTM Digital Assets & Technologies.
There is an added significance in this merger considering the fact that TTM Digital owns data centers and on top of that, it is also involved in mining a variety of cryptocurrencies like Ethereum. Its operations are based out of North Carolina and New York.
By way of this merger transaction, TTM Digital’s operations are going to become a part of Sysorex Inc. Once that happens, it will become the first publicly listed Ethereum focussed company in the United States.
Considering the optimism around the crypto sector at this point, the remarkable rally in the Sysorex stock might not have come as a surprising move for many investors.
Sysorex is primarily involved in providing cybersecurity solutions, secure wireless access, and related products. That is the company’s core business and it is going to continue to operate it as before.
It also provides cybersecurity-related products to the United States government through its fully owned subsidiary company Sysorex Government Services Inc.
The merger with TTM Digital is a significant move for Sysorex for another reason. TTM Digital has been operating in the Ethereum mining space for some time and more importantly, it has run a profitable business since its establishment. It now remains to be seen if the Sysorex stock can add to its gains through the rest of the month after the latest rally.
Disclaimer: We hold no shares in SYSX stock.