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Here’s Why Blackbird Plc Shares Surged 14% Today

Simon Mugo trader
Updated 27 Oct 2020

Practice Stock Trading
Blackbird logo

Shares of Blackbird PLC (LON: BIRD) today surged 14% despite the lack of major announcements from the cloud video editing software company. The company’s share price has inched higher over the past few days since it was named as the most advanced video editing platform in 2020 on 14th October.

According to the New World Report, Blackbird won the prize after industry experts examined its platform based on the criteria such as its feature set, performance, speed, reliability and value.

Blackbird claims to be the world’s fastest, most powerful professional cloud video editing and publishing platform, which enables remote video production.

The company provides rapid frame-accurate access to video content for the easy creation of clips, highlights and longer-form content to multiple devices and platforms.

The platform seems to be gaining market share given that it was recently used for cloud video editing and publishing at the U.S Democratic National Congress and is also being used by Sky News Arabia and the National Hockey League.

Blackbird seems to have caught investors’ attention, which could explain the recent rally. The shares are still trading way below their all-time high of 74p.

Blackbird share price

Tradingview chart of Balckbird share price 27102020

Blackbird shares today surged 14% to trade at 24.5p having rallied from Monday’s closing price of 21.5p.

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Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading