Shares of KULR Technology Group (KULR) soared to close at a record high $4.80 Thursday after the energy storage company made its first investment in bitcoin worth $21 million.
On Thursday, KULR Technology Group, Inc KULR announced that it has completed the purchase of 217.18 Bitcoin BTC/USD for approximately $21 million, at an average price of $96,556.53 per BTC.
KULR Technology stock has shown significant volatility, trading between $0.10 and $1.7499, with recent gains suggesting a potential breakout from a bearish trend. Promising Q3 2024 earnings, including record revenue and reduced operating expenses, highlight KULR's improving financial health and operational efficiency. KULR Technology's strategic moves, such as a defense contract and Bitcoin allocation, along with NASA-certified products, enhance its market position and investor appeal.
I believe KULR's exposure to high-growth industries, including eVTOLs, data centers, SMRs, and space batteries (to name a few) make this penny stock an asymmetric risk/reward bet. The 400% increase in its share price in the past month suggests growing investor interest, though I believe it's primarily from retail, with minimal institutional involvement so far. I see partnerships with Amprius, H55, and Molicel as a strong sign of demand for KULR's technology, with further collaboration announcements likely to increase the share price.
Start Time: 16:30 January 1, 0000 4:59 PM ET KULR Technology Group, Inc. (NYSE:KULR ) Q3 2024 Earnings Call November 13, 2024, 16:30 PM ET Company Participants Michael Mo - CEO Shawn Canter - CFO Stuart Smith - IR Conference Call Participants Stuart Smith Good afternoon, everyone, and welcome to the KULR Technology Group Third Quarter 2024 Earnings Call. I'm your moderator for the call, Stuart Smith, and I will be joined on the call today by the CEO of KULR Technology Group, Michael Mo and the CFO of the company, Shawn Canter.
KULR Technology Group, Inc. (NYSE:KULR ) Q2 2024 Earnings Conference Call August 12, 2024 4:30 PM ET Company Participants Stuart Smith - IR Michael Mo - CEO Shawn Canter - CFO Stuart Smith Welcome, everyone, to the KULR Technology Group Second Quarter 2024 Earnings Call. KULR Technology Group is traded on the New York Stock Exchange under the ticker symbol KULR.
KULR Technology Group, Inc. (NYSE:KULR ) Q1 2024 Results Conference Call May 15, 2024 4:30 PM ET Company Participants Stuart Smith - Investor Relations Michael Mo - Chief Executive Officer Shawn Canter - Chief Financial Officer Stuart Smith All right. Thank you for joining us today for the KULR Technology Group First Quarter 2024 Earnings Call.
Kulr Technology (NYSEMKT: KULR ) stock is falling on Thursday following the release of the thermal management technology company's earnings report for the first quarter of 2024. Unfortunately for KULR stockholders, the company reported earnings per share of -4 cents during the quarter.