Comtech Telecommunications Awarded $7 Million Contract
On May 29, Comtech Telecommunications Corp. (CMTL) announced that its Command and Control Technologies Group was awarded over $7 million in new contracts from an international space and communications customer. The Command and Control Technologies Group is a leading provider of mission-critical mobile C4ISR solutions. Comtech noted that the company has been providing supply chain management services to this company for over 30 years.
Sonal alerted its subscribers at 10:00 am, and the next trade took place at 10:01 am for $30.73. The stock priced spiked after the announcement before fading later in the morning. Comtech’s stock continued to rise over the next five trading days. The stock closed at $33.11 on June 5 for a gain of 7.7% in the days after the event.
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