If you are on the lookout for a company that is on the rise as a business then it might be difficult to ignore KWESST Micro Systems Inc (OTCMKTS:KWEMF).
The company is one of the leading players in the tactical systems space and primarily develops and commercializes those systems for security forces. In recent times, KWESST Micro Systems has seen its revenues soar amidst the continued rise in the number of military contracts.
The company’s strong performance has also been reflected in its stock price and in 2021 so far, the KWESST Micro Systems stock has recorded gains of as much as 50%. Last week, the company was in the news once again after it announced that it hired the services of Stryk Group USA as its strategic partner for the commercialization initiatives related to Low Energy Cartridge non-lethal products in the United States market.
Stryk is going to be responsible for providing KWESST Micro Systems with expert counsel with regards to branding, market positioning, website development, and e-commerce modules. The executive chairman of KWESST Micro Systems, David Luxton spoke about the matter as well.
He stated that it was a major step in the company’s efforts to bring the Low Energy Cartridge products to the United States market. While this was a major development, investors need to note that not too long ago, KWESST Micro Systems has also signed a contract worth $1.1 million with the United States military for its TAASC system. It is a stock that investors could do well to track closely.
Market Reaction:
On Friday, KWEMF stock fell 3.72% at $1.47 with more than 19k shares, compared to its average volume of 29k shares. The stock has moved within a range of $1.4244 – 1.5796 after opening the trade at $1.57. The stock has gained about 50% so far this year.
