SuperCom (SPCB) Soared Over 54% on Friday: What Next?

The announcement of a major deal almost always comes as a significant boost to a company’s stock and that is what seems to have happened with the SuperCom Ltd (NASDAQ: SPCB) stock.

This past Friday the stock rocketed by as high as 54.50% after it announced the signing of a massive deal with the government of Israel. SuperCom is going to supply the government with devices meant for quarantine compliance so that the coronavirus pandemic can be managed efficiently.

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The product in question is the PureHealth Coronavirus Quarantine Compliance Solution from SuperCom. In addition to that, SuperCom will also be providing services for the devices. The agreement has been made for three months at least as of now and SuperCom has stated that it could add revenues to the tune of as huge as $3 million each month. Investors need to note that there is an option in the agreement by way of which the deal can be further extended by 36 months.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.