CounterPath (CPAH) Stock Announces Deal With Honeywell

CounterPath CPAH Stock News

CounterPath, Corp. (NASDAQ: CPAH) is rocketing in the market this morning, trading up 126.27% in a short squeeze. The squeeze was triggered by news that the company has entered into a new collaboration with Honeywell. Here’s what’s happening:

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CPAH Rockets On Deal With Honeywell

In a press release issued early this morning, CouterPath announced that it has partnered up with Honeywell. The partnership will work to create a new Unified Communications software solution known as Smart Talk.

In the release, CPAH said that Smart Talk will enable organizations to streamline communications, increase productivity, and enhance customer experiences. Through the service, mobile workers will be able to connect and collaborate on devices they already use in their daily operations.

The new product will come with a long list of features, including, but not limited to:

  • VoIP call capabilities;
  • push to talk conversations;
  • instant messages to single users or a group of colleagues;
  • video calling capabilities;
  • advanced security, including encrypted calling.

Workforces are becoming more and more mobile. So, a communication solution like this will help to increase customer satisfaction as well as sails. As such, CPAH and Honeywell believe that Smart Talk will lead to a strong ROI for the corporations that take advantage of the technology.

In a statement, Todd Carothers, Chief Revenue Officer at CPAH, had the following to offer:

We’re proud to be powering Honeywell Smart Talk. In a fast-paced world, customers expect efficient service. In essence – they what to get what they want, when they want it. Honeywell Smart Talk enables retail workers to communicate effectively, addressing customer concerns, satisfying their needs, and bolstering sales.

The Positive News Triggered A Short Squeeze

While the news issued this morning was great for CounterPath, very few bits of news deservedly cause a run in value of well over 100%. In this particular case, it seems as though the overreaction is being caused by a short squeeze.

Essentially, those that shorted CPAH stock saw losses as soon as the stock started to rise up on the positive news. As such, these short sellers were forced to abandon their positions and race to cover (buy shares). This lead to stronger volume and stronger gains that seem to be continuing.

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