BIO-Key is a company focused on multi-factor authentication, particularly using biometric inputs. Think things such as fingerprint reading devices to allow access to secure systems and facilities. While the company hasn’t gained much scale as of yet, it has announced new contracts recently, and the current pandemic could serve as a catalyst to drive more business in settings thanks to distance work. It also scored a timely contract recently to secure voter registration data.
BIO-Key raised a substantial sum of money this summer, giving it capital to keep developing its business. It also acquired PortalGuard, which has hundreds of customers for its enterprise secure log-on platform. All of this is to say that BIO-Key has multiple irons in the fire that could cause shares to surge from their current level at any time.
Readers should be aware that BKYI stock is indeed, like many penny stocks, quite speculative. Shares trade at 45 cents each, after all, and the firm does not have a history of profitability. With that in mind, it might be wise to use an active trading approach with that sort of stock. BKYI stock has a tendency to spike to $1 or so per share every so often. Taking profits on these periodic increases can help lower risk in trading this sort of low-priced volatile company.