Gopher Protocol Inc (OTCMKTS:GOPH) bounce-back from all-time lows, is gaining momentum, as short sellers continue to lose control. After underperforming in 2018, depicted by a 50% plus slide in share price, the stock has started bottoming out on fundamentals turning positive.
Share Price Analysis
The stock’s fortunes and sentiments in the market have turned positive in recent weeks in response to the company achieving significant milestones on the development of its mesh system. The company is also fresh from implementing distributed Artificial Intelligence system as it continues to strengthen its prospects around the two revolutionary technologies.Recent developments have helped strengthened investor confidence in the stock triggering a buying spree of the stock. After feeling the full force of short sellers in 2018, the stock has started surging as bulls continue to take the fight to bears. GOPH Daily ChartThe stock has already powered through a tight trading range as the upward momentum continues to gather pace. A surge past the $0.5 mark has opened the door for Gopher Protocol to make a run for the $1 a share level.
About Gopher Protocol
Gopher Protocol casts itself as a development stage company focused on the development of the Internet of Things and Artificial Intelligence technology. The company also sells phones as well as phone car products and gift cards.
Why is Gopher Protocol a Break out Play?
Gopher Protocol is an emerging breakout play on hitting rock bottom over the past year. The stock has bounced back on huge volume supported by improving fundamentals. Fuelling the upward rally is the announcement of positive results as part of the company’s mesh system under development.Early this year, the company initiated testing of multiple antenna types as part of the final phase of the mesh system development. The antenna is an important component of any wireless system, as it ensures thorough network communication.
“In this type of testing we are validating the firmware and hardware functionalities as a complete system. We are pleased with the results as they match the architecture design. The next stage is a field test where the system will be used in actual urban and rural areas,” said Danny Rittman, Ph.D., Chief Technology Officer of Gopher Protocol.
Following the trials, the company is planning to develop a mobile app to be used in inspecting the mesh system’s features including node hoping as well as area coverage and firmware data. The mobile app is to form an integral part of the system’s alpha and beta versions.The announcement of positive results for the mesh system comes on the heels of Gopher Protocol implementing a distributed artificial intelligence within its Avant AI System. The implementation will allow the company to enhance AI processing speeds and capabilities. The implementation will also enable dynamic learning as well as planning and fast decision-making.Avant DAI is Gopher Protocol new system designed to unlock the vast computing power of a collective network of processors. It is also designed to assist in reasoning, planning, and learning and perception topics.
“This technology is important in order to enable Avant’s parallel processing when necessary. In a multi-user environment, a large-scale computation and resources distribution is needed in order to provide vast solutions and answers. Avant! DAI is a smart system and will be activated only when needed in certain situations,” said Danny Rittman, Ph.D., Gopher’s Chief Technology Officer.
Bottom Line
Gopher Protocol is not yet out of trouble, despite the recent spike from all-time lows. However, the fact that the bounce back has come on improving fundamentals supports further movements to the upside. For early movers eyeing opportunities in the Internet of Things or Artificial Intelligence space, then Gopher Protocol could be an ideal pick.We will be updating our subscribers as soon as we know more. For the latest updates on GOPH, sign up below!Disclosure: We have no position in GOPH and have not been compensated for this article.Image courtesy of Pexels
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