Pareteum Corp (NYSEAMERICAN: TEUM) is having yet another relatively strong start to the day after the company released a press release surrounding yet another new revenue generating contract. Of course, this led to excitement and investors are showing their support by pushing the stock up for the 5th straight session. Today, we’ll talk about:
- The new contract that was awarded;
- what we’re seeing from TEUM;
- and what we’ll be watching for ahead.
TEUM Awarded Another New Contract
As mentioned above, Pareteum released some big news yesterday. In a press release, the company announced that it signed a 3-year contract to provide its gGlobal Cloud Services Platform and Connectivity for roaming, airtime, voice, SMS, and data to an emerging North American Mobile Virtual Network Operator. In the release, the company said that the operator serves retail customers as well as under-serviced subsidized subscribers throughout North America. TEUM said that the new service will give the operator the ability to offer more affordable mobile and broadband services. The company also announced that it will be paid monthly for every subscriber that connects to the platform on top of usage fees for connectivity and communications services. In a statement, Vic Bozzo, CEO at TEUM, had the following to offer:
We continue to focus on making this a simple set up, with a single platform and connectivity in as many places as possible, through partnerships with incumbent Mobile Network Operators and Carriers. This latest win is specifically a result of the hard work of our talented sales force and market leading technology.
The above statement was followed up by Hal Turner, Executive Chairman and Principal Executive Officer at Pareteum. Here’s what he had to offer:
Pareteum’s vision is open mobility and application networks, globally. This will mean the availability, on demand, of the best services, in both quality and pricing, to connect ‘Any Device, Any Network, Anywhere.’ Providing safe, secure, quality mobility services to underserviced communities and their billions of underserved people is a global effort. Pareteum is pleased to empower this new North American MVNO as they provide previously unattainable connectivity to their customers, opening new opportunities for economic development and safety.
What We’re Seeing From The Stock
One of the first things that we learn as investors is that the news moves the market. In this particular case, the news is definitely doing so. After a strong run in the market yesterday, the stock continues to head for the top today as investor excitement continues. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:05), TEUM is trading at $2.77 per share after a gain of $0.03 per share or 1.09% 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 TEUM. In particular, we’re interested in following the company’s continued growth of its contractual back log and excited to see the future announcements made. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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