Ameri Holdings Inc (NASDAQ: AMRH) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced news revolving around the blockchain, and like what we’ve seen with KODK and INPX over the past session or two, the stock is making a run for the top. Today, we’ll talk about the announcement, what we’re seeing from the stock, and what we’ll be watching for with regard to AMRH ahead.
AMRH Soars On Blockchain Announcement
As mentioned above, Ameri Holdings is having an overwhelmingly strong start to the trading session this morning after issuing a press release announcing its entrance into the blockchain. In the release, AMRH announced that it intends to expand its service offering with blockchain functionality.
This blockchain functionality will be designed to transform its customers’ approach to supply chain management. In the release, AMRH said that the technology will deliver greater transparency and accountability at every step of the customer’s supply chain.
Ameri Holdings said that it plans to develop its expanded offering through the establishment of an in-house blockchain practice. The company will also be forming new strategic partnerships aimed at the acquisition of startup companies that offer blockchain functionality. In a statement, Brent Kelton, CEO at AMRH, had the following to offer:
“Our blockchain initiative reflects a customer-driven approach to supply chain management that offers substantial advantages over today’s conventional supply chain IT infrastructure. With the deployment of blockchain solutions, customers can expect to see increased transparency and greater efficiency in the management of their complex supply chains that should yield substantial time and cost savings. As enterprises move to deploy new technologies like blockchain, this expansion of our best-in-class solutions is an investment in the Company’s future success.”
What We’re Seeing From The Stock
As investors, one of the first things that we learn is that the news moves the market. Recently, there have been few bits of news that have the ability to cause movement in the market quite like blockchain news. So, with the news of their entrance into the blockchain, it’s no surprise that Ameri Holdings is making a run for the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:33), AMRH is trading at $7.61 per share after a gain of $4.19 per share (122.51%) thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AMRH. In particular, we’ll be watching for acquisitions in the blockchain industry and excited to see what the company does with the technology. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!