Forward Industries (FORD) Stock: Climbing High On Acquisition News

0

Forward Industries, Inc. (NASDAQ: FORD) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced an acquisition that led to some serious excitement among investors. Today, we’ll talk about the acquisition, what we’re seeing from the stock, and what we’ll be watching for with regard to FORD ahead.





FORD Announces Acquisition News

As mentioned above, Forward Industries is having an overwhelmingly strong start to the trading session this morning after announcing acquisition news. In a press release that was issued late yesterday, the company announced the acquisition of Intelligent Product Solutions, also known as IPS.

IPS is a product design and development company with leading brands in electronics, medical devices, enterprise and security solution providers and Internet of Things solutions. In fact, in the PR, FORD said that the company provides services to Google, Physio Control, PepsiCo, Motorola, ABInBev, Zebra and Charity Water. In a statement, Terry Wise, CEO at FORD, had the following to offer:




“I am delighted and excited with the acquisition of IPS. The company is an excellent strategic fit for Forward Industries. Its expertise and strong track record in designing connected/IOT products and developing products such as the AdhereTech ‘smart’ pill bottle will significantly strengthen and contribute to Forward Industries. As a Group, we are now able to offer a complete design, development, manufacturing and distribution service. We face exciting times ahead.”

The above statement was followed up by Mitch Maiman, CEO at IPS. Here’s what he had to offer with regard to the acquisition:

“Forward Industries is an ideal partner for IPS because of its strength in medical products and we will continue delivering exceptional product design and development services. And, IPS will remain committed to our team and to maintaining our offices on Long Island and Minneapolis.”

What We’re Seeing From The Stock

One of the first things that we learn when we start to dabble in the market is that the news causes movement. With such positive news surrounding Forward Industries, it’s no surprise that we’re seeing strong gains in the value of the stock today. Currently (8:50), FORD is trading at $1.99 per share after a gain of $0.75 per share or 60.48% 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 FORD. In particular, we’re interested in following the company’s growth as a result of this acquisition and excited to see the results in both revenue and earnings. 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!

Subscribe Today!

* indicates required









Previous articleIs Bitcoin (BTC) Really Decentralized?
Next articleIs Ripple (XRP) Centralized? Is It Even A Cryptocurrency?
Hey, Im Joshua, the founder of CNA Finance. I enjoy following the trends in the market and finding the catalysts that are making the moves. If you want to get in contact with me, leave a comment below or email me at CNAFinanceHelp@gmail.com Please keep in mind that I am not an investment advisor and nor is CNA Finance. This is a news and information gathering outlet. We may work directly with some of the companies that we write about. If we have a business relationship with an issuer, we will mention that in the articles. We also have various affiliate relationships with advertisers and may be paid if you sign up for a service that you were referred to through our website.

LEAVE A REPLY

Please enter your comment!
Please enter your name here