Bloomberg recently reported that the UK government will be investing roughly $285,000,000 in funding to support the country’s technology industry. Investors have long sought out opportunity in this sector generally for the wild swings, big breakouts, and overall volatility this emerging industry can have. The days of the dot com boom ring out as a shining example of how technology can turn certain investors into overnight millionaires. For the UK, their predominance as a tech hub following Brexit is a move to make the world know that our friends across the pond aren’t playing around when it comes to bleeding edge innovation.
The government “is determined to encourage the existing environment for these cutting-edge technologies by unlocking and supporting further research and development in the U.K.,” Chancellor of the Exchequer Philip Hammond said in the statement. “This extra funding will help further boost the U.K.’s leading role in this sector.”
Based on this, we took a look at the US market for echoing sentiment that tech is here to stay and found 3 standouts tech stocks to watch in October of 2016. These include xG Technology Inc (NASDAQ:XGTI), Iddriven Inc (OTCMKTS:IDDR), and Health Advance Inc (OTCMKTS:HADV).
xG Technology Inc (NASDAQ:XGTI) announced today that, together with partner Southwest Research Institute®, it has received a $3.0M award issued by the Defense Information Systems Agency for Prototype Spectrum Sharing Systems for the 2025-2110 MHz Band. This news came as a positive event for investors. Shares of XGTI skyrocketed by as much as 115% above Friday’s closing price. The company will perform a significant portion of the project, and the award represents a significant milestone in the application of xG’s highly unique core technology to Government efforts to permit spectrum sharing between certain government and commercial applications. Government initiatives in spectrum sharing have been identified by xG as a key strategic focus.
Iddriven Inc (OTCMKTS:IDDR) recently announced that it has hired Neil Kleinman as the North American Sales Manager, an industry vet in tech and finance. Their flagship Iddriven software is designed to manage large quantities of user data and access rights across applications. This is not only accessible on site but also offers identity services for users working remotely or for breach attempts made outside of the network location(s). The recent string in security breaches worldwide has helped to propel attention within this space. The most prominent occurrence as of late has been the 2014 security breach of some 500 million Yahoo accounts, which was revealed in September of this year. Since hitting $0.05 in early September, shares of IDDR continue to rise and Monday’s high of $0.185 marks a move of over 260% in just over 30 days.
Health Advance Inc (OTCMKTS:HADV) announced this morning that on October 2, 2016, the Company signed a definitive agreement to acquire 100% interest in the web domain www.discountseniorsupply.com. As a result of the acquisition, Health Advance will also have the license to the interspire e-commerce shopping cart, the supplier relationships, a team located in India that would manage the e-commerce web business and provide customer support along with marketing reports and updates. Over the better part of the last week, share prices have risen for HADV. On Wednesday of last week the stock swung from $0.09 to as high as $0.50 and over the course of the preceding days, HADV has seen a consistent rise in share price. Monday HADV had managed to hit highs of $0.286.