SenesTech Inc (NASDAQ: SNES) is having an overwhelmingly strong start to the trading session this morning after announcing that it has reached a distribution agreement with a leader in the pest control space. Of course, the announcement excited investors who are sending the stock on a run for the top. Today, we’ll talk about:
- The distribution agreement;
- what we’re seeing from SNES as a result; and
- what we’ll be watching for with regard to the stock ahead.
SNES Heads Up On Distribution Agreement
As mentioned above, SenesTech is having a strong start to the trading session this morning after the company announced that it has entered into a distribution agreement. In a press release issued early this morning, the company announced that it has entered into a distribution agreement with Bug Off Pest Control Center, surrounding its product, ContraPest®. Beyond distribution, SNES announced that Bug Off will be marketing and selling ContraPest throughout its network as well as providing ongoing training to pest management professionals in the Greater New York area. In a statement, Dr. Loretta P. Mayer, Chair, CEO and co-founder at SNES, had the following to offer:
Andy Linares and Bug Off are well known and well respected in the pest management world. He brings a focus on innovation, education and service to his PMP customers, and we look forward to working with him to more rapidly penetrate the New York City market.
The above statement was followed up by Andy Linares, President of Bug Off Pest Control. Here’s what he had to offer:
New York is the biggest market for rodent control in the U.S.; the toughest, and the most sophisticated. My PMP customers rely on Bug Off to bring them the most innovative and the most effective solutions to their pest management challenges. ContraPest is a very promising product, and I am looking forward to partnering with the SenesTech team to bring it to our market.
What We’re Seeing From The Stock
Considering the new distribution agreement with Bug Off Pest Control, one of the largest household names in the industry, it’s no surprise to see that investors are excited about SenesTech. Of course, with excitement comes gains, and the stock is definitely seeing upward movement. As is normally the case, our partners at Trade Ideas were the first to laert us to the movement. Currently (11:01), SNES is trading at $1.66 per share after a gain of $0.25 per share or 17.72% 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 the continued commercialization of ContraPest as the process seems to be going incredibly well at present. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks.
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