Inpixon (NASDAQ: INPX) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has entered into a new revenue generating contract. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The new contract;
- what we’re seeing from INPX stock as a result; and
- what we’ll be watching for ahead.
INPX Climbs On New Contract
As mentioned above, Inpixon is having an incredibly strong start to the trading session this morning after announcing a new contract. In a press release issued this morning, the company said that NuVision Technologies has contracted to purchase Indoor Positioning Analytics (IPA) in order to offer a service to its customers participating in tradeshows and other events. The contract includes several Inpixon 4000 sensors as well as the INPX Analytics Engine and related implementation services.
The indoor Positioning Analytics Platform provided by INPX finds accessible cellular, Wi-Fi and Bluetooth signals being emitted from cell phones and other devices. From there, the platform uses its data mining engine to enable new information insights and actionable intelligence. This intelligence provides valuable information like visitor counts by time of day and zone, visitor dwell time by kiosk or zone, returning versus new visitors and more. In a statement, Nadir Ali, CEO At INPX, had the following to offer:
The number of uses for indoor positioning technologies at tradeshows and events is nearly limitless… We’re proud to partner with NuVision, a true thought-leader in the application of innovative technologies that benefit nearly every part of the tradeshow and event ecosystem, including exhibitors, attendees, organizers and service providers.
The above statement was followed up by Ed Martincic, CEO at NuVision. Here’s what he had to offer:
There’s really no more powerful sales technique than a face-to-face meeting… And that’s what effective in-person events provide. We look forward to providing Inpixon IPA at events around the U.S. to enhance attendees’ and exhibitors’ event experience, to stimulate customer loyalty and to increase booth rebooking rates.
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 the case of Inpixon, the news proved to be overwhelmingly positive. After all, this new contract will likely generate substantial revenue for the company. So, it comes as no surprise to see that excited investors are sending the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:02), INPX is trading at $0.23 per share aftera gain of $0.023 per share or 10.85% 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 company’s progress under this contract as a solid performance will likely lead to not only a happy client, but new business. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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