Sector Update: Tech

Last Updated: Thursday, January 20, 2022 3:21 PM | MT Newswires

Technology stocks were heading for moderate gains in late trade, with the SPDR Technology Select Sector ETF (XLK) Thursday rising 0.5% although the Philadelphia Semiconductor Index (^SOX) was slipping 0.3% this afternoon, giving back a midday advance. In company news, DatChat (DATS) raced almost 34% higher after the networking software firm said it has signed a nonbinding letter of intent to acquire information technology company Avila Security for $1 million in cash. DatChat will also pay the greater of 739,650 restricted common shares or $2.5 million worth of the same shares at the deal's completion.

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