Innovative measurement solutions creator and developer MySize Inc (NASDAQ:MYSZ) was one of the notable movers in the markets yesterday and its stock ended the day with gains of as much as 36%.
Market Action:
On Tuesday, MYSZ stock gained 36.21% at $1.5800 with more than 272.24 million shares, compared to its average volume of 4.31 million shares. The stock has moved within a range of $1.1762 – 2.9700 after opening the trade at $1.1800.
Awarded Contract from Dockers (Turkey)
The rally in the MySize stock was triggered by the announcement from the company with regards to the fact that it had bagged a contract from Dockers (Turkey). Dockers is one of the more recognisable brands in the world and belongs to the American company Levi Strauss & Co. MySize has steadily grown in stature in the clothing industry and managed to bag this particular contract after having proven its credentials for a year with the Turkey division of Levi Strauss & Co.
Dockers (Turkey) has now decided to use the company’s artificial intelligence powered sizing technology solution after having been convinced by the work that had been accomplished with Levi Strauss & Co. In this regard, it should be noted that over the past year, the MySize widget had been responsible for reducing the return rates for Levi Strauss & Co. That is a significant boost for a company that remains one of the biggest players in the jeans wear space in the world.
