TAOP Stock Experiences Sharp Decline Amidst Software Service Sector Movements

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Nov 22, 2024

TAOP (TAOP, Financial) shares recently experienced a significant drop of 5.05%, with the stock priced at $0.337 per share. The trading volume reached 180,456 shares, with a turnover rate of 2.72% and a price fluctuation of 5.64%. The latest financial report shows that TAOP achieved a revenue of $18.08 million, a net profit of $588,744, and earnings per share of $0.13, with a gross profit of $4.14 million and a price-to-earnings ratio of 0.39. Currently, there are no institutional ratings for buying, holding, or selling the stock.

Within the software services industry, where TAOP operates, the overall growth was 0.55%. Notable performers in the sector included Palladyne Ai Corp C/Wts 24/09/2026 (To Pur Com), Palladyne Ai Corp., and Hub Cyber Security Ltd C/Wts 22/08/2025 (To Pur Com), which saw significant gains. Active stocks included Jet.AI, Wellchange Holdings Company Limited, and Palladyne Ai Corp., with turnover rates of 1692.45%, 170.63%, and 155.76%, respectively. Stocks with high volatility included Hub Cyber Security Ltd C/Wts 22/08/2025 (To Pur Com), 海川证券, and Palladyne Ai Corp C/Wts 24/09/2026 (To Pur Com), with amplitudes of 136.36%, 84.08%, and 78.79%.

TAOP is a provider of cloud application technology for smart city IoT platforms, digital advertising, and other internet-based information distribution systems in China. Its operational divisions include Cloud-based Technology (CBT), Blockchain Technology (BT), and Traditional Information Technology (TIT), with CBT generating the largest revenue. The company offers cloud-based products and services to private sector clients, including new media, healthcare, education, and residential community management.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.