Alpine 4 Holdings Inc (NASDAQ:ALPP) Stock Makes a Big Move: Soars On Heavy Volume
Not too long ago the Alpine 4 Holdings Inc (NASDAQ:ALPP) stock had suffered from a sharp selloff but on Wednesday, it managed to make a strong recovery and ended the day with gains of as much as 8.50%.
Market Stats
On Wednesday, ALPP stock closed higher by 8.60% to $2.91 with more than 2.15 million shares, compared to its average volume of 1.20 million shares. The stock has moved within a range of $2.5100 – 3.1400 after opening trading at $2.53.
Alpine 4 Holdings Subsidiary, Vayu Aerospace Corporation, Advances to Phase 3 of our US Air Force SBIR Allowing for Sole Source Procurement
Alpine 4 Holdings is best known for owning and operating small market businesses and yesterday, it came into focus after its subsidiary company Vayu Aerospace Corporation made a key announcement. Vayu Aerospace announced yesterday that it had been successful in completing the United States Air Force Phase 2 SBIR through the deployment of its own US-1 in the form of an autonomous vehicle.
It was a significant development for Vayu considering the fact that after the completion of this particular task, the US-1 is going to progress to Phase 3. In this particular phase the US-1 can be sold sole to the United States Air Force. The President of Vayu TK Eppley spoke about the development as well.
He stated that he was proud about the latest achievement of Vayu and went on to describe US-1 as the global leader in terms of air time. It is now going to be interesting to see if the Alpine 4 stock continues to rally or not.
Key Quote
Sgt. Nathan Grier, Lead Operator of Vayu had this to say. “I take great pleasure in seeing Vayu complete the mission that I helped procure as the Program Manager for the sUAS of the 90th Missile Wing of the US Airforce. As we move into phase 3, I feel proud to be part of a team working on a critical project of this magnitude. We look forward to continuing our relationship with the US Airforce and the development of future drone tech.”
Traders Corner
ALPP stock is trading below the 20-Day and 50-Day Moving averages of $3.25 and $3.15 respectively. Moreover, the stock is trading below the 200-Day moving average of $3.62. The stock is down 38% in the past month.
