My Size, Inc. (NASDAQ: MYSZ) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has had meetings with major retailers, leading to excitement among investors. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to MYSZ ahead.
MYSZ Gains On Meetings With Major Retailers
As mentioned above, My Size is having an incredibly strong day in the market today after announcing that it attended NRF 2018. At the conference, the company says that it held high-level meetings with retailers who are interested in evaluating and adopting My Size’s MySizeIDTM body measurement technology.
In the release, MYSZ stressed the importance of the NRF conference, which it calls, “Retail’s Big Show.” Ultimately, the event offers networking opportunities as well as a glimpse of the latest technologies and solutions for retailers. In a statement, Ronen Luzon, CEO at MYSZ, had the following to offer:
“Coming off a hugely successful unveiling of MySizeID at CES last week, we are continuing the momentum this week with more meetings and presentations at NRF 2018. NRF has a reputation for being the most prominent retail trade show to unveil new transformative technologies in the retail industry. We believe that My Size’s platform technology, and particularly MySizeID, can help solve the costly challenge of size and fit, and therefore can significantly improve the economics of the e-retail apparel industry.
NRF participants come from 95 countries, including 18,000 retailers. We believe our smartphone-based sizing solution is a valuable tool for a significant number of attendees.”
How The Stock Reacted To The News
One of the first things that we learn as investors is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. As a result, we’re seeing excitement among investors who are sending My Size screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:45), MYSZ is trading at $2.65 per share after a gain of $0.51 per share or 23.83% 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 company’s continued growth among retailers with their MySizeID platform. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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