The stock of SuperCom Ltd. (SPCB) stock surged in the pre-market. SPCB stock is at $0.53, with a gain of 2.12% in pre-market as of this writing. At the end of the last trading session, the stock closed at $0.52. The stock volume traded was around 2.05 million shares during the previous trading session.
What’s Happening?
SuperCom Ltd. (SPCB) announced that its subsidiary, Leaders in Community Alternatives (LCA), has begun providing rehabilitative services. It is a further extension to winning an award in the domain.
A focus on employment services for women is part of this project’s mission. It assists people who have returned to the community after periods of imprisonment. They provide evidence-based and individualized services that help to reduce the likelihood of re-incarceration. This new project is estimated to be worth approximately $1 million. For three years, the cost would be about $340,000 per year. To maintain momentum into 2022, they are pleased to announce the launch of another new project in California. They believe it will help to validate further the value of its offerings and the strength of long-term customer relationships.
Additionally, they credit their track record of success in developing customized programs that best meet the needs of public agencies in crime reduction, improving outcomes, and eventually changing behavior for this new project. The company expects more multi-year government projects with new and existing customers worldwide. It will contribute to the company’s annual recurring revenues.
Effect on SPCB stock
The company is trying hard to announce projects and ventures that would help them gain the investors’ trust. The stock is increasing, and right now, they have to meet compliance with NASDAQ.
Conclusion
The company is trying hard to announce the projects that will help them control the stock price. The company should promote new projects that will bring new revenue streams.
