Darkstar Ventures Inc (OTCMKTS: DAVC) prospects and sentiments in the market have received a significant boost on the signing of a merger agreement with smart tech travel firm Samsara Luggage. After a 200% plus spike, the stock has once again pulled lower, attributed to investors taking profits.OTCMKTS: DAVC Price Analysis The stock appears to have found support at the $0.01 level from where it is likely to bounce on its way to registering new higher highs. Investor sentiments in the stock have edged higher in recent weeks, as the proposed merger is poised to strengthen the Company’s core business.A merger with Samsara should diversify the Company’s core business by expanding its footprint into a new segment with vast opportunities for growth. The stock stabilizing above the $0.01 technical level is a welcome that affirms bullish bias as the stock continues to bottom out from all-time lows. DAVC Daily ChartWhile trading above the $0.01 support level, Darkstar Ventures is likely to make a run for the $0.02 mark, the immediate resistance level standing in the way of further upside action. Conversely, a violation of the $0.01 support level would leave the stock exposed to further sell-offs that could see it plunging back to all-time lows.In our view, Darkstar Ventures is a potential break out play as it appears to have hit bottom and likely to continue edging higher as bears exit positions.What Does Darkstar Ventures Do? Founded in 2007, Darkstar Ventures is a company that was initially focused on real estate development activities in Israel. A merger with Samsara will result in the expansion of the Company’s operations, into the business of enhancing travel through exciting technologies. Samsara is a smart luggage company that meets airline regulations by leveraging cutting-edge technology.[embed]https://www.youtube.com/watch?v=xBK9-mrBnS0&t=1s[/embed]Samsara Merger Boost After a long period of consolidation at all time lows, Darkstar Ventures price action activity has picked up the pace. A spike in share price, as well as trading volumes, signals to strengthen investor interest, following the implementation of a new strategic initiative in the form of a merger with Samsara.The two have signed a definitive agreement in which Samsara Shareholders will be issued with new shares representing 80% of Darkstar Venture. A merger of the two will result in business development and marketing activities, geared towards expanding Samsara’s smart travel tech brand to some of the biggest markets in the world.
"We are excited to move to the next phase, merging with DAVC and launching Samsara smart luggage solutions online and on Amazon stores worldwide. The luggage industry continues to rapidly grow, and Samsara Luggage is here to change the way people travel. This is a real opportunity,” said Atara Dzikowski and David Dahan, Samsara Co-Founders.
According to Darkstar Ventures CEO, Abraham Bengio, a merger of the two companies is in the best interest of long-term investor’s as it will lead to a new and exciting direction for the Company. The CEO also expects the merger to provide Samsara an opportunity to become a global market leader when it comes to smart travel tech, ideal for strengthening shareholder value.Following the signing of the definitive merger agreement, Samsara Luggage Inc. has unveiled a new production line designed to enable enhancements of its disruptive technology. The new product line integrates the Internet of Things features as well as innovative design and materials.Separately Darkstar Ventures board of directors has decided against conducting a reverse common stock split. Instead, the management is to increase authorized capital offered to the public as part of the merger with Samsara.
“We plan to focus on leveraging Samsara smart travel tech to increase revenues and profitability and to enhance value for all our shareholders. We plan to take full advantage of tapping into the fast-growing smart travel industry out there, estimated at billions of dollars, and turn into tangible business all the opportunities made possible by our recent merger into the smart travel tech industry,” stated Mr. Bengio.
What Next For Darkstar Ventures?A merger with Samsara Technologies has reinvigorated Darkstar Ventures growth metrics after a long period of underperformance. With the merger, the Company is poised to flex its muscles in the smart tech travel business with vast opportunities for growth.The stock bottoming out from all-time lows underscores growing investor confidence about the company’s long-term prospects in response to the merger. Given that there is a lot of room to cover on the upside, the stock looks set to continue climbing the ladder.We will be updating our subscribers as soon as we know more. For the latest updates on DAVC, sign up below!Disclosure: We have no position in DAVC and have not been compensated for this article.
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