SuperCom Ltd’s (SPCB) stock rally late yesterday on speculation of a large African contract win. Shares of SPCB were strong into the close moving from about $10.50 to about $11.50 in the last hour of trading. While it is unclear what exactly caused this stock rally, we believe it may be associated with an article from Security Document World stating:
“…In November, Security Document World reported that the Kenyan government had confirmed plans for a US$145 mn scheme will see all Kenyan nationals, including children, issued with electronic national identity cards.
An unnamed Israeli firm has won the contract to manage registration for the National Digital Registry Service (NDRS), which will see all data on individuals and their assets stored in one data bank…”
Can SuperCom Stock Rally Continue?
Nothing has been confirmed, but we believe, with SPCB being an Israeli based electronic identification card supplier, that investors will assume that there is a high probability that SPCB has landed this contract and that this stock rally can continue. The company provides traditional and digital identity solutions to government, private and public organizations worldwide.
Recall that on March 27, 2015 GeoInvesting stated that it believed shares were worth $11.55 per share, a milestone that the stock has reached during the company’s latest stock rally.
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