Pareteum Corp (NYSEAMERICAN: TEUM) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced a management update that led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching with regard to TEUM ahead.
TEUM Announces Management Update
As mentioned above, Pareteum is having an overwhelmingly strong start to the trading session this morning after announcing that it has strengthened its management team with a new Vice President of Sales. In a press release issued early this morning, the company announced that it has brought John O’Donnell on as the new Vice President of Sales in North America.
In the release, TEUM pointed out that O’Donnel formerly worked for McAfee’s Intel Security Group and brings more than 25 years of experience to the table. Aside from McAfee, O’Donnell has held senior sales positions at SecureLogix and Vocaltec Communications. In a statement, John O’Donnell VP of Sales for North America at TEUM, had the following to offer:
I am excited to join Pareteum as the momentum of the business naturally leads to expansion in the US. Service Providers, Enterprise and Marketing companies need a more efficient way to manage their mobility and communications services, and the platform that Pareteum has built is market leading.
The above statement was followed up by Rob Mumby, Chief Revenue Officer at TEUM. Here’s what he had to offer:
It’s an important step in the evolution of our company to be able to attract this type of experience and talent. We began a move into the US this past year and we see this as the logical step to accelerate our presence. We are delighted that John has joined us to help drive our Incremental Contractual Revenue Backlog.
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 this particular case, the news proved to be overwhelmingly positive. After all, Bringing Mr. O’Donnell to the team will likely improve sales at Pareteum. So, it’s no surprise to see that the stock is running for the top. Currently (10:20), TEUM is trading at $2.57 per share after a gain of $0.13 per share or 5.33% 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 story surrounding the addition of Mr. O’Donnell and excited to see the revenue grow as he takes charge. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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