Inpixon (NASDAQ: INPX) is headed up in the market today after it announced that it has entered into a new agreement. The agreement joins the company with a leader in wireless integration in Canada, potentially opening the door to strong revenue. Of course, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The agreement;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for with regard to INPX ahead.
INPX Announces Agreement
As mentioned above, Inpixon is having an incredibly strong day in the market today after the company announced that it has entered into a new partnership agreement. In a press release, the company announced that it has entered into a reseller partnership with Genwave Technologies. Genwave is a wireless integration specialist in Canada that is known for in-building radio-frequency engineering and design-build. INPX said that it will work with Genwave to nurture the indoor technology industry’s prosperous growth as a result of the Internet of Things, RF systems, and Wi-Fi. In a statement, John Piccininni, VP of Business Development at INPX, had the following to offer:
It’s a natural partnership between Inpixon and Genwave… By advancing the location-based and wireless technology markets, our alliance produces solutions which both actively solve enterprise security risks and effectively facilitate a powerful jumpstart to in-store retail practices. Both are in dire need of digital integration.
The above statement was followed up by Rob Graham, President and CEO of Genwave. Here’s what he had to offer:
This is a partnership built on common strengths… Inpixon and Genwave represent innovative solutions in collaborative markets, and our partnership will ultimately lend our clients a deeper, more comprehensive value.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. After all, with the new partnership, Inpixon has an opportunity to see strong revenue and earnings growth. So, it’s no surprise that excited investors are sending the stock on a tear for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:36), INPX is trading at $0.40 per share after a gain of $0.61 per share (17.90%) 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 INPX. In particular, we’re interested in following the story surrounding the company’s newly minted relationship with Genwave. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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