Cemtrex Inc (NASDAQ: CETX) is headed for the top in the market this morning, trading on early gains of more than 60%. The gains come after the company announced that it has received a large order from the United States Border Control. Here’s what’s going on:
CETX Stock Jumps On Border Control Order
In a press release issued this morning, Cemtrex said that it has received multiple new orders in its Advanced Technology segment. The orders come to a total value of more than $1.5 million.
In the release, CETX said that the large number of orders were primarily driven by a large government agency customer. In particular, this customer is responsible for border security in the United States.
The orders were for the company’s video surveillance equipment along with all software and hardware to run the surveillance system. CETX said that it expects for these orders to be fulfilled within the current quarter.
Importantly, the company said that it expects for multiple additional orders from the border security client to take place over the next two years.
These Are Exciting Times
If you’ve invested in Cemtrex, these are exciting times for you. The company’s Advanced Technology segment is seeing growth, and in my view, that growth will continue. Here’s why:
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
Click below to continue reading.