Iddriven Inc (OTCMKTS:IDDR)
Shares of Iddriven Inc (OTCMKTS:IDDR) were a big mover in Thursday’s trading session after rallying by 223% to close the day at a three month high of $0.178 a share. While the rally came with no accompanying news, it helped reverse, be it in short term, a downtrend that has plagued the stock for the better part of the year.
Iddriven Inc (OTCMKTS:IDDR) has underperformed the overall industry after shedding more than 60% in market value since the start of the year. The stock is currently trading in a trading range waiting to see if the recent bullish tone will fuel a run towards a 52-week high of $0.02 a share. The stock faces immediate resistance at the $0.02 level.
Iddriven Inc (OTCMKTS:IDDR) bills itself as an innovative provider of premise and cloud-based identity and access management solutions. Its solutions are designed to ensure access across multiple technological environments that are limited to authorized personnel. The company’s lead product, IDdriven, manages volumes of users and access rights over various environments.
Iddriven Inc (OTCMKTS:IDDR) next generation iDaaS program is at the forefront of a new breed of Identity Management and Access Governance Solutions. The solution uses Azure AD to manage AAD users. It is also designed to handle attestation campaigns automatically, in addition to connecting to SaaS applications.
In May, Iddriven Inc. (OTCMKTS:IDDR) launched a channel program that paves way for its solutions to make available through Ingram Micro and ioSafe resellers. The integrations should expose IDdriven to a wider distribution network as the company moves to create new partnerships with resellers and customers around the world.
The integrations should also enable resellers create new revenue streams by providing clients an affordable, easy-to-manage enterprise-class IAM security solution. Iddriven Inc. (OTCMKTS:IDDR) is in the process of targeting over 8,000 small to medium sized companies in the U.S with their latest distribution push.
“We are excited to be moving into distribution. Leveraging ioSafe distribution network consisting of more than 20,000 resellers in the USA and around the world will enable us to cultivate new relationships and significantly accelerate our growth,” said Arend Verweij, Iddriven CEO.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.