QuantGate Systems Inc. (OTCMKTS:QGSI) Stock Hits 52-Week High: But Why?
There were a number of stocks that made big moves on Wednesday, and one of those was QuantGate Systems Inc. (OTCMKTS:QGSI), which ended up with gains of as much as 62% amidst significant interest. The company is a pioneer in the machine learning and artificial intelligence spaces related to the financial technology industry.
On Wednesday, the company was in the news after it announced that it had appointed a new chief executive officer in the form of Allen Bezanson. The appointment would go into effect on September 1, 2023. The appointment of a new chief executive officer is almost always regarded as a major event at any company, and the reaction of the market appeared to be entirely positive. Hence, it may be a good idea to take a closer look at Bezanson’s credentials as the incumbent Chief Executive Officer.
He boasts a strong track record of driving business success in the areas of private equity, equities, artificial intelligence, and investment. The company noted in its press release that the appointment of Bezanson could well prove to be a turning point for QuantGate Systems. His considerable experience in completely transforming market-related decision-making through the use of advanced artificial intelligence and big data processing could prove to be significant.
In the press release, it was noted by the company that his track record was particularly impressive in the financial industry. As far as his experience is concerned, he worked across a range of industries, starting with hedge funds, private equity, oil and gas, and financial services.
That experience is also a reflection of Bezanson as an executive with comprehensive experience on both the sell side and the buy side. For a quarter of a century, from 1985 through 2010, he was involved in trading billions of dollars in derivatives, foreign exchange, futures, fixed income securities, and equities.
In a statement released yesterday, Bezanson noted that he felt honored to have been appointed CEO of QuantGate Systems. He observed that the commitment of the company to bring about innovations in the fintech space through artificial intelligence was in line with his own commitment to advancements that could be transformative.
On July 25, Pilot Trading, the company’s innovative trading app, announced that it had introduced enhanced and new features for the Pilot Trading App on both the iOS and Google Play app stores. The app, meant for day traders, announced a slew of enhancements. One of those was the introduction of a crypto tab, which could allow traders to smoothly access the biggest crypto exchanges in North America.
Another feature was ‘Equilibrium Take Profit Target’, which would enable faster exit from positions, and another was ‘Quick Select Take Profit, which would allow a user to choose from among a range of profit targets. Last but not least, the fourth enhancement was a trade grouping feature. That would help traders group related trades with far greater ease.
