Document Security Systems, Inc. (NYSEAMERICAN: DSS) is flying early on in the pre-market hours this morning, and for good reason. The company announced that it has entered into a new distributor agreement, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The new agreement;
- what we’re seeing from DSS stock as a result; and
- what we’ll be watching for ahead.
DSS Announces New Agreement
As mentioned above, Document Security Systems is having an incredibly strong start to the trading session this morning after announcing a new distributor agreement. The announcement came via press release early this morning.
In the release, DSS said that it signed an exclusive Master Distributor Agreement with Advanced Cyber Security Corp. Under the agreement, Advanced Cyber will distribute the company’s EndpointLockV cyber security software exclusively in 13 countries and non-exclusively in the United States and Middle East.
The company’s EndpointLockV software was developed to solve a worldwide secuirty threat. The software has been instrumental in the early advancement of the biggest breaches of today.
The threat that the software is focused on is known as keylogging spyware, a threat that has become a main component in cyber attacks of today.
In a statement, Mr. Fai H. Chan, CEO at DSS, had the following to offer:
Keylogging spyware has become a problem that is global in scope. It steals every keystroke typed into a PC or mobile device including login credentials, credit card and banking info and other sensitive data. The rapidly growing costs of cybercrime and the increasing rate of digital connectivity will drive the rate of spending in cyber security in the coming years. DSS believes EndpointLockV is the missing link for credential and data protection.
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 Document Security Systems, the news proved to be overwhelmingly positive.
After all, the company’s new contract brings a key distributor on board and will likely result in a strong increase in revenue. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top in the market today.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:23), DSS is trading at $1.45 per share after a gain of $0.41 per share or 39.42% 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 DSS. In particular, we’re interested in following the story surrounding the company’s continued work to expand its product offering and sales around the world. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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