Auxilio, Inc. (NYSEMKT: AUXO)
Auxilio was off to a relatively normal day in the market today. At the open, the stock was trading slightly green. While it did see its ups and downs, the movement wasn't much worth writing home about. Nonetheless, minutes ago, the stock started to soar. Below, we'll talk about what we're seeing from AUXO, why, and what we'll be watching for ahead.
What We're Seeing From AUXO
As mentioned above, Auxilio wasn't having a great day and it wasn't having a bad one today. The movement was relatively bland. Sure, the stock started in the green and saw some ups and downs, but really, nothing exciting was happening. That is, until minutes ago when the stock started to soar. At the moment (12:35), AUXO is trading at $4.85 per share after a gain of $0.63 per share or 14.93% thus far today.
Why The Stock Is Headed Up
As is usually the case, our partners at Trade Ideas were the first to inform us of the gains on AUXO. As soon as we received the alert, the CNA Finance team started working to see why the stock was making a run for the top. It didn't take long to dig up the story, the gains seem to be the result of the fact that the company won a service contract, and a big one at that.
Minutes ago, news broke that Auxilio won a $12.5 million contract. The contract is for printing and services. The contract was signed with a Prestigious University Medical Center. Of course, this is overwhelmingly exciting news as $12.5 million in revenue is always welcomed for any company, especially one the size of AUXO.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AUXO. In particular, we'll be watching for any news associated with the new contract as well as other contracts that may be in the works. Nonetheless, we'll continue to follow the story and bring it to you as it breaks!
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[Image Courtesy of Pixabay]