At last check, shares of Infobird Co. Ltd. (IFBD) were up 21.05%, trading at $1.15 in the pre-market. Despite the absence of any noteworthy news, the IFBD stock is recovering from the 8% loss it suffered in the previous session.
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What therefore is driving up the IFBD stock?
We may then point to recent events to offer a fuller picture of the firm as the IFBD stock increased in the absence of recent news. On October 6, 2022, the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) sent Infobird (IFBD) a notice letter (the “Notice”). The letter informed IFBD that the issue has been resolved and that it is once again in conformity with the Nasdaq Capital Market’s minimum bid price criteria.
Infobird received its initial notice from Nasdaq on March 28, 2022, that it had violated the Nasdaq Listing Rules by failing to maintain a minimum closing bid price of at least $1.00 per share for 30 consecutive trading days. Infobird was given 180 days, or until September 26, 2022, to comply. The deadline for IFBD to recover compliance was extended by 180 days, or until March 27, 2023, by Nasdaq on September 27, 2022. IFBD executed a 1-for-5 share consolidation as of September 9, 2022.
The Notice said that as of October 6, 2022, Infobird has provided closing bid evidence for its common shares from September 9, 2022, through October 5, 2022, at or above $1.00. As a result, UFBD is once again in conformity with the Nasdaq Listing Rule, and Nasdaq has deemed the situation to be resolved.
A recent collaboration:
Collaboration between Infobird and a well-known Chinese cab company was announced recently. To equip the taxi enterprise’s customer service reception with digital capabilities to assure service efficiency and enhance the customer experience, IFBD will design an intelligent customer reception platform in collaboration with the client. As IFBD grows its clientele in the transportation sector, this relationship represents another significant turning point.
What will the IFBD offer?
A full digital customer service platform with intelligent AI chatbot customer service agents, an intelligent ticketing system, and customer service agents will be provided by Infobird (IFBD) as part of this engagement. After the platform is launched, AI chatbots can support human customer service representatives, realize 7X24 full-time reception, respond to incoming calls, automatically record the content of the response, and generate work orders, making it convenient for customer service representatives to ask questions and guarantee the connection rate while preventing the happening of missed connections.