SkyX Platforms (SKYX) Stock: Why It Surged Over 30% Today

By Amit Chowdhry ● Jul 28, 2022
  • The stock price of SkyX Platforms (SKYX) surged by over 30% today. This is why.

The stock price of SkyX Platforms (SKYX) surged by over 30% today. Investors are responding positively to a bullish research report.

Benchmark analyst Michael Legg initiated coverage on SkyX Platforms with a “Buy” rating. And Legg assigned the company a price target of $15, which imputed a 259.71% upside to the stock.

“SkyX is evolving electric code improvements alongside its patented load-bearing receptacle, ultimately bringing safety and efficiency improvements to building code,” wrote Legg in a research note. “Alongside this base product, SKYX has designed a product suite of lighting and ceiling fixtures and, in a partnership with General Electric is providing sources for manufacturing, distribution, and branding capabilities. While still in the early innings, we believe the market opportunity provides significant upside for the company’s asset-light model to drive impressive growth and profitability.”