BOXL Stock Price: Boxlight Corp set to rise from support amid rising coronavirus cases


  • NASDAQ: BOXL is set to advance on Tuesday after falling to the late-September lows on Monday. 
  • Rising global coronavirus cases may add to the demand for Boxlight's educational solutions.
  • The firm has recently expanded its global operations following cash injections. 

Boxlight Corp's shares have dropped to $1.61 on Monday, hitting the lowest since late September, when they closed around $1.60 for several days.

However, NASDAQ: BOXL stock is changing hands at $1.65 in Tuesday's pre-market trading, a bounce of over 2%. 

While BOXL is far from the 52-week high of $4.65, it is five-fold above the 52-week low of $0.33. 

Can the Lawrenceville, Georgia-based firm continue rising? Boxlight is in the education technology sector, which has seen more demand due to the coronavirus pandemic. Learning is about much more than using video applications such as Zoom or Skype, but having tools that allow students to answers questions, teachers instruct, and pupils to collaborate. 

COVID-19 cases are surging in Europe and are also on the rise in the US in the first month of autumn, as more people stay indoors. National and regional governments are imposing restrictions and that could extend – winter has yet to come. 

Amid these prospects, Boxlight's ed-tech could be in high demand.

BOXL Stock News

BOXL has recently acquired Sahara Presentation Systems, a provider of education in the EMEA region. That allows the firm to expand its global appeal. Sahara is based in Britain and engaged in digital signage products as well as its Audio Visual (AV) products. 

In that move, Boxlight deployed some of the $22 million it received from Lind Global Macro Fund via a new investment. Additional acquisitions, using cash and preferred stock, are probably on the cards. 

Broader markets are watching fiscal stimulus talks in Washington. Democrats and Republicans have drawn closer, but a deal has yet to be struck.

 

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