My Size Inc (TLV: MYSZ) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company made an announcement that it will not only be participating in a trade show, but it will also be unveiling new technology. Today, we’ll talk about the announcement, what we’re seeing from the stock as a result, and what we’ll be watching for with regard to MYSZ ahead.
MYSZ Gains Big On Announcement
As mentioned above, My Size Inc, a company focused on smartphone measurement applications, made a big announcement today. First and foremost, the company announced that it would be taking part in the CES innovation tradeshow in Las Vegas. The show will be held from January 9th through the 12th, 2018. The company said that it will be unveiling a technological breakthrough at the tradeshow!
On top of the breakthrough, MYSZ said that it will be presenting its 3 flagship products. Those products are SizeUp, TrueSize, and BoxSizeID. These products are based on algorithms that are capable of calculating and recording dimensions through various methods. In a statement, Ronen, Luzon, CEO at MYSZ, had the following to offer:
“Over the past year since the prior CES tradeshow, we have improved our technology, launched additional products using the measurement algorithm and extended the variety of devices with which the application can be used… I am pleased to say that we will also be presenting new developments and innovations at the tradeshow this year. We are glad to lead the way in measurement technologies and are proud to play an integral part in the global change introduced by the e-commerce revolution.”
How The Stock Is Reacting To The News
As investors, one of the first things that we learn is that the news moves the market. Any time positive news is released with regard to a publicly-traded company, we can expect to see gains in the value of the stock associated with that news. That’s exactly what we’re seeing from My Size Inc today. Following the announcement, the stock started to skyrocket and continues on strong gains. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:05), MYSZ is trading at $410.00 per share after a gain of $171.20 per share (71.69%) 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 MYSZ. In particular, we’re interested in learning about the new innovations the company will be unveiling at the coming CES tradeshow. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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