Appliance Recycling Centers of America Inc (NASDAQ: ARCI) is having an incredibly strong start to the trading session this morning, and for good reason. The comapny’s subsidiary announced an IoT connectivity move that’s exciting investors. Today, we’ll talk about:
- The connectivity news;
- what we’re seeing from ARCI stock as a result; and
- what we’ll be watching for ahead.
ARCI Stock Gains On IoT News
Appliance Recycling Centers of America is having a strong day in the market today after its subsidiary announced IoT news. The news came by way of press release early this morning.
In the release, GeoTraq Inc., the ARCI subsidiary, announced the transition from GSM to LTE-M/NB-IoT connectivity. Ultimately, the move creates an entirely new class of Mobile IoT modules.
The company is developing a Tracker-Module for asset tracking and location-based services. This comes with a Sensor-Module used for remote monitoring. In the release, the company said that it believes that the new ultra-small Mobile IoT modules will radically change the way businesses locate assets and communicate data globally.
In a statement, Pierre Parent, General Manager of the ARCI subsidiary, GeoTraq, had the following to offer:
Our niche in the IoT/ M2M industries is focused on Simple IoT. Our modules enhance the capabilities of existing technology by driving innovation in our products.
The company also said that GeoTraq engineers are currently testing prototypes of the new modules. It is expected that these modules will be submitted for regulatory certification by the summer.
The company will be exhibiting the technology at Internet of Things World between May 14, 2019 and May 16, 2019 at booth #852.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Appliance Recycling Centers of America, the news proved to be overwhelmingly positive.
After all, with the company’s subsidiary offering new tracking service that are likely nothing else on the market, we can expect to see a meaningful increase in revenue relatively soon. So, it’s not surprising that excited investors are pushing the stock on a run for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:25), ARCI is trading at $7.48 per share after a gain of $2.78 per share or 59.15% 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 ARCI. In particular, we’re interested in following the story surrounding the company’s continued work to expand its offering and provide value to shareholders. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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