Intelligent Living (NASDAQ:ILAG) stock is heading higher on Tuesday after the company announced plans to develop home security devices.
According to a recent press release from the company, it will start developing home security devices that are combined with blockchain technology. Intelligent Living has brought in China Star Technology Development Limited to handle the development of the devices.
That agreement will see China Star take care of the technical product development work for Intelligent Living. However, Intelligent Living will own all of the rights to new products, devices, applications, and related intellectual property used in the devices. That includes software too.
Intelligent Living is expecting several new products to be a part of this agreement. Those expectations include smart locks, audio and video monitoring devices, climate control tech, and more.
Today’s Announcement Follows Up On IPO Promises
Bong Lau, chairman and CEO of Intelligent Living, said the following about the news.
“As mentioned in our recently completed initial public offering last July, we will invest in research and development for smart locks, smart security and internet of things (IoT) products. We are confident that our working with China Star will generate synergies that will result in the development of advanced lockset products and smart home security devices.”
Trading of ILAG stock is sitting at 2.8 million shares as of this writing. That’s well above the company’s daily average trading volume of about 334,000 shares. It also has LIAG stock rising 37.9% in pre-market trading on Tuesday!
Investors can keep reading for more of the latest stock market news today!
We’ve got all of the hottest stock coverage traders need to know about on Tuesday! Among that is what has shares of Catalyst Biosciences (NASDAQ:CBIO) stock up, the biggest pre-market stock movers this morning, and more. You can find out all about these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the biedexmarkets.com.com Publishing Guidelines.
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