My Size, Inc. (NASDAQ: MYSZ) is having yet another overwhelmingly strong start to the trading session this morning. Recent gains surrounding the stock have to do with a press release that was issued last week informing investors that the company will be unveiling new technology at CES, a conference that starts tomorrow. Today, we’ll talk about the coming unveiling, what we’re seeing from the stock, and what we’ll be watching for with regard to MYSZ ahead.
MYSZ To Unveil Technology At CES
As mentioned above, My Size is having yet another incredibly strong day in the market today, following up on the strong gains that we’ve seen on the stock as of late. Ultimately, the gains are happening in anticipation of a technology unveiling that will be taking place at this year’s CES in Las Vegas. The conference will take place from tomorrow, January 9th, through January 12th.
MYSZ is a company that’s focused on body measurement technology. Their technology, known as MySizeID, allows consumers to measure their body using their smartphone. From there, these measurements can be used to make online clothing purchases with confidence, knowing that the clothing purchased will fit correctly. In a statement, Ronen Luzon, CEO at MYSZ, had the following to offer:
“We are very excited to introduce what we believe is a leading-edge solution that we developed which will enable consumers to get the right fit when purchasing clothing online. We believe this is the first time anyone has managed to link body measurements taken with the smartphone with clothing sizes. This level of accuracy and the related convenience is unique to us, and we believe no competing solution provides a solution like ours… The online clothing market in the U.S. alone is valued at over $72 billion of an overall value of approximately $395 billion e-commerce sales market.
This is our second time presenting our technologies at CES. Over the last year since the last trade show, we have significantly improved and enhanced our technology, launching additional products using our measurement algorithm and increased the number of devices that can support our applications. I am glad to say that we will be presenting new developments this year too. We are pleased to lead the way in measurement technology and are proud to play an integral role in the global transformation caused by the e-commerce revolution.”
What We’re Seeing From The Stock
As investors, we know that the news moves the market. With a coming unveiling that will be taking place tomorrow, it only makes sense that we’re seeing strong gains in the value of the stock today. At the moment (10:08), MYSZ is trading at $2.93 per share after a gain of $1.27 per share (76.55%) 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 following the story surrounding the unveiling that will be taking place tomorrow and excited to see the new developments. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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