VirnetX Stock Soars To 30-Month High Today: What’s Driving The Rally?

VirnetX announced that it had secured a General Services Administration (GSA) Multiple Award Schedule contract on Thursday.

VirnetX Holding Corp. (VHC) shares soared in Friday’s opening trade, rising to a 30-month high after the company announced that it had secured a General Services Administration (GSA) Multiple Award Schedule contract on Thursday.

The company stated that this designation makes it an approved technology provider for federal, state, and local government agencies looking for mission-critical cybersecurity, secure communications, and digital-engineering capabilities.

VirnetX shares soared 71% in Friday’s opening trade to hit a 30-month high before paring some of the gains. Retail sentiment on Stocktwits around the company also soared, trending in the ‘extremely bullish’ territory at the time of writing, rising from ‘neutral’ a day ago.

Message volumes also witnessed a surge, entering ‘extremely high’ levels from ‘low’ a day ago. VirnetX was among the top ten trending tickers on the Stocktwits platform at the time of writing.

Get updates to this story developing directly on Stocktwits.<

For updates and corrections, email newsroom[at]stocktwits[dot]com.<