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Shares of Gorilla Technology Group Inc (NASDAQ: GRRR) are trading higher Friday, continuing a month of strong gains fueled by two significant contract announcements in Asia. The stock has posted a 17% gain in the past month.
What To Know: On September 8, Gorilla announced it had secured a multi-million dollar 5G AI lawful interception platform win with a sovereign government in the APAC region.
This was followed on September 17 by an announcement that the company signed a $1.4 billion, three-year contract with Freyr to develop a network of AI-powered data centers across Southeast Asia.
The initial phase is valued at $300 million, and Gorilla will serve as the principal operator and infrastructure lead for the project in Indonesia, Malaysia and Thailand.
What Else: To provide shareholders with additional clarity, Gorilla Technology Group on Friday, September 26, filed a Form 6-K with the SEC. The filing confirms the deal is a binding contract and reiterates that the $300 million first phase will begin in the fourth quarter of 2025.
The company believes current cash is sufficient for the project’s needs without requiring near-term capital raising.
GRRR Price Action: Gorilla Technology shares were up 3.30% at $19.40 at the time of publication Friday, according to Benzinga Pro. Over the past month, GRRR has gained about 17.1% versus a 2.5% rise in the S&P 500.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Gorilla Tech’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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Posted In: GRRR
