Inpixon (NASDAQ: INPX) was one of the top gainers in the New Year. It rallied in the day by 201.83%, to close the day at $0.33. This came after the company gave a recap of 2019, and offered insights into 2020. The company noted that, 2019 was a successful year, as the company closed a decade of continuous innovation. One of their biggest achievements in 2019 was being named by Gartner in the magic quadrant for indoor location services globally. The company noted that, this recognition was a major boost for the company as it sort to focus on more integration and interoperability, by leveraging on the power that comes with open systems.
The company also noted that, it had made some acquisitions that it deems strategic in the acquisition of new customers, as well as creating new entry points. One of its key acquisitions was that of Locality Systems, a video analytics company whose services complement those of Inpixon current solutions. The company noted that, through this acquisition, it will have leverage in the indoor positioning markets. Another of its major acquisitions in 2019, was the GPS technology portfolio that helped the company merge outdoor GPS with its indoor positioning system. The company also acquired Jibestream, an industry leader in indoor mapping.
In 2020, the company announced that, it expects growth in the indoor location and analytics market. It projects that, the market will be worth $54.6 billion by the year 2026. The company believes that its ability to offer good services on all the core aspects of this market creates new and unexploited markets. The company also intends to spend 2020 in better protecting customer data.
Looking at its price action, the stock is in a breakout. It opened the day at $0.16 and traded between a low of $0.14 and a high of $0.39, before closing the day at $0.33. Volumes in the day stood at 478.25 million.
Inpixon provides big data services and related services. It is based in Palo Alto, California.