VIQ Solutions (NASDAQ:VQS) Stock Consolidates After Recent Fall

Shares of VIQ Solutions (NASDAQ:VQS) have been moving in a range after recent fall.

Market Reaction

On Friday, VQS  stock fell 4.40% to $1.74 with 10k shares, compared to its average volume of 40K shares. The stock moved within a range of $1.7400 – 1.9400 after opening trade at $1.94.

Key Triggers

Global provider of secure, AI-driven, digital voice and video capture technology and transcription services, VIQ Solutions (Nasdaq:VQS) is advancing growth strategy as well as expanding offerings. Earlier in the month, the firm announced strategic partnership with software development company focusing on technology for legal sector, LegalCraft.

LegalCraft’s flagship product, Lexel, provides a trial preparation and case analysis platform. The partnership enables VIQ to become first strategic partner to offer Lexel in the country. Lexel also permits law professionals to collaborate securely for organising and preparing cases for trial. The legal sector accounts for almost one-third of VIQ’s total revenue.

VIQ has largest markets in U.S, U.K and Australia. US and Australia represented 62% and 30% respectively of the total revenues for the nine months ending 2021. The firm is identifying and evaluating M&A candidates for enhancing organic growth and expanding global footprint.

VIQ Solutions also confirmed on releasing financial results for quarter four as well as entire year of 2021 ending December 31, 2021 by March 29, 2022. The firm’s management will be hosting conference call for discussing results on March 30 at 11:00 AM Eastern Time.Investors can access live webcast of call on website . They may also dial 1-888-440-4052 (North America toll-free) or +1-646-960-0827 (international) for connecting by an operator using conference ID number 4983233.


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