Technology-enabled consumer products company Aterian (NASDAQ:ATER) is up this morning after appointing a new chief operating officer. Indeed, ATER stock is trending up nearly 10% on the news as investors ponder if now is the time to get in on the tech-centric company.
So, what do you need to know about Aterian lately?
Well, this morning Aterian announced the appointment of Anton von Rueden as its new COO. The role will primarily focus on Aterian’s global supply chains out of the company’s U.S operations. Additionally, the company reported that the previous COO, Pramod K C, will serve as COO and general manager of the company’s Asia division.
Chief Executive and Co-Founder Yaniv Sarig had some kind words for the new appointments:
“We are excited to have Anton joining us at Aterian. He is a seasoned builder of e-commerce businesses and an operational leader with deeply relevant experience. His multi-faceted career brings incredibly valuable experience to our executive team as we prepare for our next phase of growth. Anton will target improved operational cross department management and processes as we scale our platform in years to come through building, acquiring and partnering with brands.”
What else do you need to know about today’s announcement?
ATER Stock Climbs on New Leadership Announcement
Aterian has had somewhat of a bumpy road the past year or so. From its all-time high of $43 per share in February last year, ATER has been on a clear downward descent. In the midst of today’s jump, the company is trending around $6 per share.
However, Aterian investors must surely see von Rueden’s appointment as a sign of positive change for the company. This makes sense, given von Rueden’s long and decorated career in operations.
Aterian is perhaps best known for its cloud-based, artificially intelligent e-commerce engine. The company enhances the management of various online marketplaces, including the likes of Amazon (NASDAQ:AMZN) and Walmart (NYSE:WMT). Therefore, investors are surely hoping today’s news will put the tech-forward company back in bullish territory.
On the date of publication, Shrey Dua did not hold (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.
