Data Storage (NASDAQ:DTST) stock is soaring higher on Wednesday after announcing a massive deal with an unnamed sports team in the U.S.
According to a press release, Data Storage signed a multi-million deal with one of the nation’s most recognized professional sports teams. The deal is through its Flagship Solutions Group subsidiary.
While we don’t know the name of the sports team in the deal, we do know what Data Storage will be doing for it. The company will provide it with encrypted storage infrastructure that will support the team, the stadium, and its affiliates.
Chuck Piluso, CEO of Data Storage, said the following about the deal boosting DTST stock higher today.
“We are pleased to announce this important contract with a major U.S. professional sports franchise, as it illustrates the traction we’re gaining in the market. We were selected based on the scalability and performance of our solutions, which provides further validation of our Flagship acquisition last year.”
News of the deal is doing good things for DTST stock as shares see heavy trading today. As of this writing, more than 37 million shares of the company’s stock are on the move. To put that in perspective, the company’s daily average trading volume is only about 166,000 shares.
DTST stock is up 25.2% as of Wednesday morning.
There’s more stock market news to take a look at below!
We’ve got all the most recent coverage that traders need to know about for Wednesday. A few examples include a deal pushing Wejo Group (NASDAQ:WEJO) stock higher, the Covid-19 news sending NRx Pharmaceuticals (NASDAQ:NRXP) stock higher, as well as Beyond Meat (NASDAQ:BYND) stock jumping on NFC news. You can get more details on the matters at the following links!
More Stock Market News for Wednesday
- WEJO Stock: 9 Things to Know About Wejo Group as Microsoft Deal Shines Light on the AV Player
- NRXP Stock Alert: The Covid-19 News Lifting NRx Pharmaceuticals Today
- BYND Stock: 11 Things for Plant-Based Investors to Know About the KFC Beyond Meat ‘Fried Chicken’ News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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