SuperCom Stock Surges On Bagging Multi-Year Driving License System Contract With A Nordic European Country: Retail Sentiment Improves

While the Israel-based firm did not disclose the value of the contract, it said it would provide long-term system maintenance and support throughout the deal's duration.

Shares of SuperCom Ltd. (SPCB) surged more than 8% in morning trade on Wednesday after the company won a multi-year contract with a Nordic European country.

According to the company, the contract requires SuperCom to develop and maintain a national computerized system for enrolling, personalizing, and issuing driving licenses.

While the Tel Aviv, Israel-based firm did not disclose the value of the contract, it said it would provide long-term system maintenance and support throughout the deal.

"The new secured DL system will leverage SuperCom's most advanced ePassport, e-ID, and secured DL technology, significantly enhancing the security, efficiency, and reliability of our customer's document issuance and delivery processes,” said Ordan Trabelsi, SuperCom's President and CEO.

SuperCom will integrate its solutions with the country’s governmental information technology (IT) infrastructure, ensuring it complies with European Union standards.

Earlier last week, SuperCom won a contract with a multi-state electronic monitoring provider in the U.S.

Retail sentiment on Stocktwits improved Wednesday morning, entering the ‘neutral’ (53/100) territory.

One user expressed their bullish outlook on the stock, underscoring SuperCom’s recent contract wins.

SuperCom’s stock price has more than tripled over the past six months, gaining nearly 242%.

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