Edison Nation (EDNT) Stock Climbs On $10 Million In PPE Orders

Edison Nation EDNT Stock News

Edison Nation Inc (NASDAQ: EDNT) is making a run for the top n the market this morning, trading on gains that are easier stated in multiples than percentages. The gains come after the company announced that it has received more than $10 million in orders for personal protective equipment. Here’s what’s going on:

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EDNT Stock Is Up Big On PPE Orders

In the press release, Edison Nation said that it received more than $10 million in orders in just one week. The orders surround the purchase of personal protective equipment. Importantly, this $10 million in orders came within the first week of the launch of these products.

In the release, EDNT said that the current orders range from sanitizers to protective face masks. It is expected that these products will ship during the current quarter.

Importantly, the company said that its sourcing team has successfully been able to secure verified suppliers for the delivery of thirty-two PPE products. Of course, the strong demand is the result of the COVID-19 outbreak.

In a statement, Chris Ferguson, CEO at EDNT, had the following to offer:

With the Coronavirus pandemic effecting thousands of families and healthcare workers in the U.S., we remain focused on furthering the development of our PPE supply network and the Edison Nation Medical brand. I appreciate the effort our U.S. and Hong Kong based teams, as well as our feet on the ground in China, who have worked so diligently around the clock to allow us to deploy these products.

This News Is Huge

We have all been watching the news. As COVID-19 continues to spread, demand for PPE is only climbing. Unfortunately, there’s simply not enough out there to meet this demand. This is why the news from Edison Nation is so huge.

At the end of the day, the company has received $10 million in orders in just a week, and the strong demand is likely to continue.

With the ability to access this PPE, EDNT is in a strong position to see a significant gain in revenue, ultimately exciting investors.

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