Despite getting a noncompliance notice, Kaleyra Inc. (NYSE: KLR) shares increased 11.71% to $1.24 on Thursday.
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Which letter has been sent to KLR?
The New York Stock Exchange (the “NYSE”) informed Kaleyra (KLR) this week in writing (the “Notice”) that Kaleyra (KLR) did not meet the requirements for continuing listing as outlined in Section 802.01C of the NYSE’s Listed Company Manual. The letter was sent by the NYSE because over a 30-day stretch, the average closing price of Kaleyra common stock (the “Common Stock”) was less than $1.00 per share. With regard to its intention to remedy the shortfall, as required by said Section, KLR expects to reply to the NYSE within ten business days of receiving the Notice.
What then has contributed to KLR’s rise?
Kaleyra revealed last Friday that Oracle Cloud Infrastructure will power several of its planned services, which would debut in late 2022. (OCI). Kaleyra will be able to extend its current connection with Oracle through this deeper partnership, effectively reaching thousands more clients.
Oracle Cloud was chosen by KLR to power some of its most recent services in order to serve this enormous market because of its superior performance, cost-effectiveness, increased security, worldwide availability, and on-demand scalability. The integrated solution can benefit thousands of clients globally by bringing speed, dependability, and security. KLR’s extended platform serves corporate enterprises all over the world with a secure system of application programming interfaces (APIs) and connectivity solutions in the API/Communications Platform as a Service (CPaaS) sector.
When Oracle Eloqua and Responsys were natively integrated into the company’s communication gateways for delivery in 2018, KLR and Oracle began long-term cooperation. In the U.S., European, and APAC regions, consumer adoption has expanded along with the volume of communications over time as a result of this native integration.
A newer link between Kaleyra’s SaaS platform, Kaleyra.io, and Oracle Eloqua was made available in 2020. It is built on the Oracle Advertising and Customer Experience (ACX) framework, which programmers may use to create plugins for the Oracle product line. At this URL, you can find the Kaleyra plugin on the Oracle Cloud Marketplace. In the future, Kaleyra intends to use Oracle ACX to construct plugins for further communication channels.
How does that aid KLR’s expansion?
Oracle’s assistance over the course of their long-term partnership has enabled Kaleyra (KLR) to provide and generate excellent outcomes. KLR’s involvement in Oracle PartnerNetwork and decision to begin utilizing Oracle Cloud further demonstrate its dedication to the Oracle community and make it possible for Oracle’s clients to quickly make use of Kaleyra as a communication platform.