SuperCom Stock Surges Pre-Market On Bagging 2 Government Contracts: Retail Eyes More Upside

Shares of SuperCom (SPCB) shot up in pre-market trading on Friday after the company bagged two government contracts. SPCB share price was up by over 25% at the time of writing.

The IT solutions provider beat incumbents to win the contracts from agencies in Kentucky. As a part of the deal, SuperCom will leverage its public safety technologies to enhance monitoring capabilities.

The company will deploy its technology to enhance monitoring capabilities and offer tailored solutions as part of the contract. The company had earlier deployed its PureProtect domestic violence monitoring solution in the region.

SuperCom has also secured a five-year contract with the Israeli Prison Service for electronic monitoring, with the possibility of a nine-year extension.

“We are thrilled to deepen our engagement in the Commonwealth of Kentucky, a region where SuperCom has already established roots,” said Ordan Trabelsi, President and CEO of SuperCom.

“These new wins reflect not only our competitive edge in technology but also the trust we've built through our prior achievements in the state, including the deployment of our PureProtect domestic violence monitoring solutions,” he added.

Reacting to the news, SuperCom’s stock emerged as one of the top trending tickers on Stocktwits. Retail sentiment was ‘extremely bullish’ (93/100), with message volume in the ‘extremely high’ (94/100) territory.

SPCB sentiment and message volume January 3, 2025, as of 9:15 am ET | Source: Stocktwits

One user was enthusiastic about future prospects citing preliminary results of SPCB.

Another user expressed optimism about SPCB, calling it a “high growth homeland security company.”

SPCB stock price has surged by over 124% over the past month, and a little over 106% in the past six months.

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