SenesTech Inc (NASDAQ: SNES) is flying early on in the trading session this morning, and for good reason. The company announced a sale that proved to be a point of exitement for investors. As a result, the stock is headed for the top in the market this morning. Today, we’ll talk about:
- The sale;
- what we’re seeing from SNES; and
- what we’ll be watching for ahead.
SNES Announces Sale
As mentioned above, SenesTech is having a great start to the trading session this morning after announcing an asset sale. In a press release issued early this morning, the company announced the sale of ContraPest® to Pestmaster Services® for the first deployment in California. In the release, SNES said that Pestmaster plans on immediate deployment of ContraPest to new and existing customers who have been selected for the product. The order also includes stocking quantities for additional customers yet to be identified.
In a statement, Tom Chesterman, EVP, CFO and head of commercialization at SNES, had the following to offer:
We have worked with Pestmaster to identify and plan for the ideal deployment of ContraPest with a variety of customer types. We are aware of two immediate customers, an animal care facility and a large government agency, but we know there are others where Pestmaster has planned deployments… Given Pestmaster’s reputation for quality and innovation, as well as their expertise in governmental contracting, we have no doubt that ContraPest will make rapid inroads into integrated pest management in California and throughout the Pestmaster network.
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 the case of SNES, the news proved to be overwhelmingly positive. After all, the sale was made to a large organization that will likely be a returning customer, making this a key revenue generating move. So, it comes as no surprise to see that excited investors are sending the stock upward in the market this morning. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:56), SNES is trading at $1.65 per share after a gain of $0.17 per share or 11.62% 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 SNES. In particular, we’re interested in following this new order and excited to see the revenue that the relationship creates. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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