SuperCom News: Why SPCB Stock Is Skyrocketing 58% Today

SuperCom (NASDAQ:SPCB) is in the news Monday after announcing a new contract for its PureTrack GPS tracking platform.

A digital illustration of a hacker in a blue sweatshirt.

Source: Shutterstock

According to a SuperCom news release, the company has signed a major deal in Wisconsin. This is for its PureSecurity Electronic Monitoring (EM) suite. The company doesn’t go into further details about the deal, such as its total value of who the customer is.

What SuperCom does say is that this contract comes after a live offender pilot of its offering. This saw the company testing out its PureSecurity Electronic Monitoring suite in real-world situations.

Ordan Trabelsi, SuperCom’s preside of the Americas, said this about the news.

“We are extremely pleased that our customers continue to see the value in the solutions we are bringing to this marketplace ts. Each win continues to demonstrate industry acceptance and faith in our solutions and technology.”

SuperCom is a company with a long history in the security market. It’s been offering its products to customers since 1988. Its customers include those in the e-Government, Internet of Things (IoT), and Cybersecurity sectors.

News of the new EM contract for SuperCom caught the eyes of investors this morning. As of this writing, more than 35 million shares of SPCB stock have moved. For comparison, the company’s daily average trading volume is only about 500,000 shares.

SPCB stock was up 57.8% as of Monday morning and is up 104.5% since the start of the year.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/11/supercom-news-sends-spcb-stock-soaring/.

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