Decoding The Recent Rally: SYLA Technologies (SYT) Stock

The most recent trading session saw a notable upsurge of 122.45% in the stocks of SYLA Technologies Co., Ltd. (NASDAQ: SYT), reaching a substantial $3.27 per share. This significant increase in SYT shares appeared to be driven by recent developments, as no immediate news could be attributed to the bullish trend.

SYLA Technologies (SYT) declared the divestment of a portion of its investment securities holdings, yielding a profit of 96 million yen. On April 11, 2024, SYLA executed the sale of a listed stock from its investment portfolio, resulting in a total profit on sales of 96 million yen. SYLA intends to employ the net proceeds to optimize asset efficiency and bolster the company’s financial framework.

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The transaction will be recorded as miscellaneous income for both the consolidated and non-consolidated accounting periods of the fiscal year ending December 31, 2024. The ramifications of the sale, in conjunction with other factors, are presently under evaluation.

SYLA Technologies also disclosed that the membership count of “ietty,” an AI-driven online real estate rental brokerage application operated by the Company’s wholly owned subsidiary, SYLA Co., Ltd., has exceeded 300,000. Following the COVID-19 outbreak, there has been an increase in demand for online customer service in the real estate brokerage industry.

As a result, the online real estate rental brokerage application “ietty” has more than 300,000 registered users. Users highly like ietty’s online customer support for being convenient and safe. By offering a complete mobile solution for property showings, viewings, and rental agreements, the platform streamlines and digitizes the rental brokerage process.

Users can access properties not publicly listed on the Internet, enabling them to search for and preview properties independently using their smartphones or PCs, thereby saving time and effort in their quest for ideal accommodations. It facilitates the application and contract signing process once customers identify a preferred property, and its popularity is steadily growing, particularly among the younger demographic.

Additionally, ietty offers a 50% reduction in agency fees for all properties. ietty remains dedicated to enhancing its services to instill greater confidence among an expanding user base.

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