Vislink (NASDAQ:VISL) stock is on the rise Tuesday morning after revealing a major deal with the U.S. Department of Defense (DoD).
According to a news release from Vislink, the DoD has ordered more than $4 million worth of handheld intelligence, surveillance, and reconnaissance (ISR) receiver devices and accessories. These are devices that allow ground troops to see real-time video feeds from aerial sources.
Vislink notes that its portable receivers grant real-time data and situational awareness to soldiers on the ground. The devices are ruggedized and lightweight, which makes them perfect for use in military applications.
Mickey Miller, CEO of Vislink, said the following about the news boosting VISL stock higher today.
“Vislink’s enduring relationship with the military is a testament to our high-quality wireless video communication solutions and the continued crucial need for real-time and secure video data delivery of actionable intelligence. We are honored to continue to be chosen by the United States’ military forces to serve as a go-to source for best-in-class video performance technology.”
News of the massive deal with the DoD increased interest in VISL stock today. As of this writing, more than 14 million shares of the stock have changed hands. For comparison, its daily average trading volume is roughly 12 million shares.
VISL stock was up 11.7% as of Tuesday afternoon and is up 166.8% 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.