Thrive Tribe Technologies' shares (ASX:1TT) are on the rise, boasting as much as a 25% increase to A$0.030, a record high since September 1.

Currently, the stock is up by 12.5%, marking the best performance for the company since May 12, provided the gains are sustained.

The technology-focused company has amplified its shareholding in Daily Food from 37.5% to 54%.

To achieve this, the company has reported an expenditure of A$132,000.

The effects of this strategic move are already visible, with more than 1.2 million shares changing hands, a noteworthy 7.0 times higher than the average 30-day volume of 175,314 shares.

This year, the stock has significantly surged in value, tripling since the beginning of the year.

Thrive Tribe Technologies is a software company specializing in the development and distribution of a variety of technological solutions.