AI-based video analytics company, Gorilla Technology Group (NASDAQ: GRRR) soared in pre-market trading at the time of writing on Friday after the company announced a contract with the Government of Egypt worth $270 million over a period of three years. As a part of this contract, Gorilla Technology will implement a Smart Government Security Convergence solution.
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Gorilla CEO Jay Chandan commented, “This is the largest project we have ever won and, inclusive of our recent win in Taiwan, we have now secured $300 million worth of projects this quarter. We could not be more excited by our momentum and future.”
Even with today’s price surge, GRRR stock has tanked by more than 75% year-to-date.
