Pareteum Corp (NYSEAMERICAN: TEUM) is having an overwhelmingly strong start to the trading session this morning after announcing that it has plans to deploy its first global cloud offering. Of course, this led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for ahead.
TEUM Announces First Global Cloud Offering
As mentioned above, Pareteum Corporation is having an overwhelmingly strong start to the trading session this morning after announcing the deployment of services to its first India-based customer for their mobile subscribers. According to the press release offered by TEUM, the services will enable India home country usage as well as seamless global service when traveling abroad. The deployment of this service will begin generating revenue within the first quarter of 2018 – a time frame that is well ahead of the time frame previously announced in October, when the news of the agreement first hit the wire. In a statement, Vic Bozzo, CEO at TEUM, had the following to offer:
“This was a significant win for us in one of the largest growth areas in the world and to begin generating revenue from this new customer so quickly proves the power of our cloud model. Continuing to streamline the efficiency of our cloud deployments to get to revenue faster is one of our largest priorities as we kick off 2018.”
What We’re Seeing From The Stock
As investors, one of the first things that we learn is that the news moves the market. In particular, the news surrounding Pareteum’s faster-than-expected launch of services proved to be overwhelmingly positive, leading to excitement among investors and sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:43), TEUM is trading at $2.26 per share after a gain of $0.19 per share (9.18%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward the CNA Finance team will continue to keep a close eye on TEUM. In particular, we’ll be following the story surrounding the launch of services in India as well as looking for other such agreements. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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