Safe-T Group Ltd (NASDAQ: SFET) was a top gainer in yesterday’s session and closed the day with gains of 34.27%. This came just a few days after the company announced that it was offering 3 months of free remote access services to companies affected by coronavirus all across the world.
The company based its decision on the spread of coronavirus that has forced most organizations to close their premises, and have employees work from home. The company added that due to the drastic nature of the coronavirus-triggered move, most companies do not have the capacity to have their entire staff operate smoothly from home. Even for organizations that may have such infrastructure, the company stated, their systems were designed for a few employees and not for the entire workforce.
The company further stated that it would start offering secure application access solutions to all affected organizations for up 6 months. For organizations to gain access to the free remote work solution, they would only need to use a light server at their offices, and then connect it to the services that employees need to access when working from home. The company also added that it had a package for resellers who have access to clients that may benefit from the service.
Commenting on the development, CEO Schachar Daniel stated that the application helps companies deploy flexible and secure remote access solutions as quickly as possible. He added that the company was the first vendor to come up with a technology that can help companies deal with the coronavirus, without shutting down operations.
Looking at its price action, Safe-T Group Ltd opened the day at $1.19. It then traded between a low of $1.19 and a high of $2.01, before closing the day at $1.83. Volumes in the day stood at 737.63k.
About Safe-T Group Ltd
Safe-T Group Ltd is a cybersecurity solutions company. It is based in Herzliya, Israel.