Cemtrex (CETX) Stock Rockets On New $700,000 Order

Cemtrex CETX Stock News

Cemtrex Inc (NASDAQ: CETX) is making a run for the top in the market this morning, trading on gains of more than 80%. The gains come after the company announced that it has brought in a new $700,000 order. Here’s what’s happening:

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CETX Stock Pops On New Order

Cemtrex said that it brought in a new order worth morning after the company announced that it received a new order worth more than $700,000. The order was placed with the company’s Advanced Technology segment.

Importantly, the order surrounds several municipal buildings in the Southern United States. Some of these municipal buildings are correctional facilities.

In the release, CETX said that the order included video surveillance equipment, including both hardware and software. This equipment was developed by the company’s Advanced Technology segment.

The company said that it expects for the orders to be fulfilled this quarter.

This Order Is Huge!

The order announced today is absolutely massive for CETX. The truth of the matter is that the company is relatively small. Even after today’s gains, it is trading with a market cap of under $10 million.

As a result, the order that the company announced today is worth more than 10% of the company’s market cap as of the closing bell yesterday!

Considering the sheer size of this deal, it’s no surprise that investors are excited. It’s also worth mentioning that a short squeeze may be at play here.

The truth of the matter is that before the news was released, CETX was a pretty heavily shorted stock. With the gains, shorts are racing to cover their positions and cut the bleeding, leading to stronger volume and even more upward movement.

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