Boxlight Corp (NASDAQ: BOXL) is having a great day in the market today, and for good reason. The company announced that it has completed an asset acquisition. Of course, the news excited investors who are pushing the stock up. Today, we’ll talk about:
- The asset acquisition;
- what we’re seeing from BOXL stock as a result; and
- what we’ll be watching for ahead.
BOXL Is Climbing On Asset Acquisition News
As mentioned above, Boxlight is having an overwhelmingly strong day in the market today after the company announced that it has completed an asset acquisition. The news came via press release this morning.
In the release, BOXL said that it has completed the acquisition of Modern Robotics. Modern Robotics is a science, technology, engineering and math (STEM) education company with programming and robotics solutions for the K-12 education market.
The company is the developer of MyBot. This is an innovative K-12 ecosystem and robotics program that helps students from pre-school to high school develop skill and a passion for programming and robotics.
In a statement, Mark Elliott, CEO at BOXL, had the following to offer:
We are excited to expand our offerings in the red-hot field of STEM and robotics learning. MyBot was conceived and developed to fulfill a need in robotics and coding in the classroom. By bringing these cutting-edge teaching tools to educators, we help them engage today’s students in meaningful learning experiences that will create graduates who are workplace ready in emerging STEM fields including software, robotics and technology.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Boxlight, the news proved to be overwhelmingly positive.
The acquisition of Modern Robotics will expand the company’s product offering and is expected to lead to a substantial increase in revenue. So, it only makes sense that investors are excitedly pushing the stock for the top.
As is generally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:44), BOXL is trading at $2.90 per share after a gain of $0.33 per share or 12.84% 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 BOXL. In particular, we’re interested in following the story surrounding the company’s continued work to expand its offering and provide more value for its customers and investors. Nonetheless, we’ll watch the story closely and bring the news to you as it breaks!
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