Digital Tech Stock SMX (Security Matters) (NASDAQ: SMX) Makes NASDAQ Top Percentage Gainer List On News

(MENAFN- Investor Ideas) Investorideas , a go-to platform for big investing ideas including sustainable and tech stocks, reports on trading for SMX (Security Matters) Public Limited Company (NASDAQ:SMX ), a pioneer in digitizing physical objects for a circular economy.

The stock made the nasdaq top gainers list today, currently trading at $5.76, up $3.31, gaining 135.10% on volume of over 35 Million shares as of this report. The stock had a day's high of $6.98 on funding news.

Yesterday SMX announced the closing of its previously announced private placement of approximately $5,350,000 of Ordinary Shares and pre-funded and investor warrants at a price of $1.00 per Common Unit.

The company recently was split and began trading on an adjusted basis giving effect to the reverse stock split on July 15, 2024

From their news - "In accordance with the proposal approved by the Company's shareholders and the Board of Directors' subsequent determination to fix the split ratio at 75:1, every seventy-five (75) ordinary shares of the Company were automatically combined into one (1) ordinary share. This will reduce the number of outstanding ordinary shares of the Company from approximately 39.6 million to approximately 528 thousand."

Typically none of this would be considered news that would make a stock run like this but it may be trading up as gold prices spike today and looking at their news from June -

"SMX announced a strategic partnership with Brink's aimed at revolutionizing the gold market landscape."

From the news: Members of the Brinks and SMX Executive Teams meeting with Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of the DMCC, in Dubai to announce their groundbreaking strategic partnership to create the new gold standard.

Members of the Brinks and SMX Executive Teams meeting with Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of the DMCC, in Dubai to announce their groundbreaking strategic partnership to create the new gold standard.

This ground-breaking collaboration brings together SMX's state-of-the-art technology, Brink's renowned expertise in secure logistics with a global network of operations, serving customers in more than 100 countries. The partnership is poised to introduce unparalleled transparency, trust, and efficiency to the gold market ecosystem.

At the heart of the partnership lies SMX's revolutionary technology, which will be deployed by Brink's to enhance various aspects of gold marking, auditing, and storage. Leveraging SMX technology, Brink's will ensure impartial marking and auditing of gold in Dubai, setting new standards for transparency and reliability in the market.

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