Plurilock Security (PLUR.V) is an identity-centric cybersecurity company that provides multi-factor authentication (MFA) solutions using behavioral-biometric, environmental, and contextual technologies. What does all that mean? Machine Learning that reduces or eliminates the need for passwords by measuring the pace, rhythm and cadence of a user’s keystrokes to confirm their identity. No more having to remember your first pets name for a password.
Let’s face it folks, Cybersecurity is a hot sector and trend for the future. Hacking, cyberwarfare will be apart of our lives going forward. We saw the Colonial pipeline incident, and then before that, a hack to take down some meat factories. This space will attract millions of investor’s money.
And it will attract millions of dollars from the government and institutions. On Tuesday, we heard Palantir announce a big contract with the US Army Intelligence Program. $823 million dollar deal. Not too shabby.
The last time I covered Plurilock, we took a look at a few government contract announcements:
On July 15, 2021 Plurilock Security (PLUR.V) received a US$1.7 million order with the U.S. Department of Defense as part of National Aeronautics and Space Administration’s (NASA) Solution for Enterprise-Wide Procurement (SEWP), a U.S. Government-Wide Acquisition Contract Vehicle (GWAC).
Plurilock Security (PLUR.V) received an order from the National Aeronautics and Space Administration for $140,000 USD. Yes that National Aeronautics and Space Administration, as in NASA.
And then another $1.08 million USD purchase order from the US Air Force as part of the National Aeronautics and Space Administration’s (NASA) Solution for Enterprise-Wide Procurement (SEWP) program.
Since that article on September 14th 2021, we have had more press releases and positive news. More revenues incoming. More Government Contracts.
As mentioned previously, Plurilock has plenty of business opportunities if they branch out to the corporate institution side. And then eventually, perhaps even a way to sell this technology to everyday consumers to use at home. Contracts with the government go a long way to establish trust and confidence if they decide to go down the consumer route.
A lot of positives with this company, and I believe they still remain under most investors radar.
When I last covered the chart of Plurilock, I mentioned the stock was retesting a breakout zone. We were watching for the stock to carry momentum higher. This was the chart I posted in that article:
This is the current chart, and what happened on the retest of the $0.55 zone:
Another winner for our readers, and we remain bullish Plurilock above our support zone. I have also drawn out a trendline showing us the current uptrend the stock is in. We will hit and test the bottom part of this trendline in the next few days.
To the upside, we have two touches on a trendline. Three is the magic number which validates the trendline, so there is a possibility to see Plurilock retrace when we hit it around $0.70. However, with this type of news flow and announcement of government contracts, these catalysts would be enough to break above this trendline and even hit record all time highs. Keep on doing the great work management!