Is Energy Focus (EFOI) Ready To Hit New Highs This Month?

There have been plenty of stocks that have managed to record considerable gains this year so far and one of those is that of sustainable lighting company Energy Focus Inc (NASDAQ: EFOI). The stock has performed admirably so far this year with gains of as much as 75%. On Tuesday, the rally in the Energy Focus continued as it jumped by another 39% as investors continued to pile on to it.

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While there was no news about the company on Tuesday, it is necessary to note that there was an important development last month. Back on January 21, it emerged that Energy Focus managed to sign as many as three new sales agencies.

The agencies in question are LEC and Company, CW Lighting and Associates LLC, and Flex Green Lighting. The signing of contracts with these sales agencies is a considerable boost for the company and could eventually result in long-term revenue growth.

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Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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