This Micro-Cap Technology Stock Sees Over 1000% Increase In Activity On Stocktwits: What Drove Brisk Message Volume

Shares of ZenaTech, Inc. ($ZENA), a Canada-based provider of artificial intelligence (AI) drone solutions and enterprise software-as-a-solution (SaaS) solutions, jumped over 28% on Thursday, sending retail traders into a tizzy.

The Toronto-based company announced on Thursday that it has launched a quantum computing project for traffic optimization and weather forecasting using its drones. The project, dubbed  Sky Traffic, was developed following a government client’s interest in using ZenaDrone 100 drones to monitor vehicle traffic. 

ZenaTech said the project will provide real-time traffic data to both government agencies and drivers to improve precision, accuracy and speed of information to optimize functions such as traffic flows and routing, traffic signal management, public safety and deployment of government services. 

The company hopes to achieve this by accessing large datasets and more computing power more rapidly than the current methods.

ZenaTech said its quantum computing team will leverage Amazon, Inc. ($AMZN) Web Services (AWS) as its computing platform to manage the project. 

It also plans to use Sky Traffic with ZenaDrone 1000 drones in weather radar applications for faster and more precise weather forecasting.

In early October, the company said the U.S. Federal Aviation Authority (FAA) exempted the company for visual line-of-sight commercial applications and data collection in the U.S. subject to specified conditions and limitations. This enabled the company to live test and evaluate the ZenaDrone 100 product with U.S.-based partners and potential customers.

Subsequently, the company began U.S. test flighting of ZenaDrone 1000 in the Arizona desert. 

It also acquired software companies Jadian and DeskFlex from its erstwhile parent, which provides it with compliance and inspection software as well as scheduling and mapping software that will be incorporated into its ZenaDrone AI solutions.

Following the announcement of the quantum computing project, message volume for ZenaTech stock spiked 1162%.

A Stocktwits user said ZenaTech stock was back above its volume-weighted average price after consolidating for a while.

ZenaTech shares ended Thursday’s session 28.12% higher at $7.29 on nearly three times their average trading volume. The stock pulled back by 1.41% in after-hours trading.

The company’s shares went public through a direct listing, and they commenced trading on the Nasdaq on Oct. 1. 

After hitting an intraday high of $11 on its debut session, ZenaTech stock pulled back steeply to a low of $1.41 on Nov. 19. Since then, the stock has staged a nice recovery. 

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