American Virtual Cloud Technologies, (NASDAQ:AVCT) Move Down -33.78% ConnX Expands Long-Standing Partnership with Kandy

American Virtual Cloud Technologies NASDAQ AVCT

American Virtual Cloud Technologies, (NASDAQ:AVCT) dwindled -33.78% to trade at $ 0.98 in the recent trading session and its total traded volume is 1130207 shares versus to an average volume of 212.29K. The company has market cap of $104.49M. The stock has negative monthly performance of -35.09% while its yearly performance remained -71.76%.

The stock demonstrated a negative move of -7.50% in previous 5 days graph. Its quarterly performance remained in the red with the percentage of -66.06%, while its year to date performance showed that the stock plunged overall -79.44% The 52 week range of the stock was $1.41 – 9.62.

The Company has an insider ownership of 60.90% and institutional ownership remained 3.10%. Its return on investment (ROI) for the last 12 month was -13.00% and its return on equity (ROE) of -431.50% for the last 12 months while return on assets (ROA) is at -65.70%.

American Virtual Cloud Technologies, (NASDAQ:AVCT) News Report

ConnX Expands Long-Standing Partnership with Kandy, Rolling Out Work from Everywhere Solutions for Large, Distributed Retailers

American Virtual Cloud Technologies, Inc.’s (AVCtechnologies)  (NASDAQ:AVCT) Kandy Communications business unit (Kandy), a global leader in secure and intelligent cloud communications announced an advance in their long-standing relationship with ConnX, Inc., a leader in digital communications transformation powered by AI and automation.

Following a range of highly successful implementations for physical, digital and hybrid retailers, Kandy and ConnX are unveiling their full-stack real time communications offering designed to meet the specific needs of retailers. The two companies recently transformed a national retail communications network in the US built and managed by ConnX which connects over 80,000 endpoints including physical stores, a contact center, and the retailer’s eCommerce platform. For more information, click to download the case study.

Kandy delivers a full suite of cloud-based Unified Communications as a Service (UCaaS) capabilities to its cloud customers through its carrier-grade Kandy Business Solutions including Cloud PBX, Smart Office UC Clients, Collaboration, Contact Center, and SIP Trunks. Kandy makes all these solutions available through leading channel partners including ConnX and AT&T.

With a unique platform that delivers a comprehensive real time communications solution to mid-size and large global enterprises, including unified voice, data, video, chat, messaging, collaboration, security, and AI-powered service assurance, ConnX currently serves customers in 120 countries with plans to expand services and global reach to meet the growing global demands of existing and new customers.


“We chose Kandy years ago as part of our foundation when we saw the move from legacy voice systems accelerating into pure cloud alternatives,” said Indrajit Ghosh, founder and CEO, ConnX. “We were there from the beginning and are proud to have been not only an early adopter of their as-a-service offerings, but to have contributed to the advancement of their technology stack and capabilities. Our most recent large retail implementation was a huge success and being expanded to include new applications and more seats. We have all the data we need to validate the strength and stability of Kandy’s platform and it’s global reach, together with the innovation and simplicity of our AI/SDWAN, SIP-as-a-Service, and AI-Analytics-as-a-Service offerings tailored for the retail industry.”


“Kandy inspires creativity,” said Chuck Canton, President, Kandy. “Our partners, developers and customers are building world class applications, supported by our team’s ongoing commitment and support. ConnX has been a world-class partner from day one, and one of the largest consumers of our software and cloud- communications platform. Their seamless implementations of increasingly large and distributed private enterprise networks continues to deepen our relationship. Today, by rolling out this exciting industry solution that retailers are looking for, we bring even greater value together as the retail sector continues their digital transformation journey. The ConnX/Kandy solution drives better customer experience, lower total cost of ownership, and opens the door for ongoing creative and competitive advantages.”

Kandy’s growing community of technology and solution partners, systems integrators, application developers and resellers delivers real-time communications in way that are intuitive, immersive, and yet simple, to meet the needs of modern businesses.


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