My Size, Inc. (NASDAQ:MYSZ) was a top performer Friday, with MYSZ stock closing the day up more than 20%. And why? Well, the Israel-area company announced its first commercial contracts for MySizeID, that’s why!
MYSZ STOCK: Up on MySizeID News
On May 17, My Size, Inc., a company that develops unique measurement technology, said it secured its first contracts for its smart measurement application for fashion and online retail, MySizeID. The news sent MYSZ stock flying, likely for two main reasons. First, it means retailers are integrating MySizeID into their retail stores. What’s more, it means MySize, Inc. has finally moved past the pilot stage (it went through six pilot programs).
“We are thrilled to announce we have moved beyond the development and pilot stages with our first commercial contracts,” said Ronen Luzon, CEO of the company. Luzon then went on to say that both the Lightspeed and Shopify marketplaces have already listed MySizeID in their app stores.
“We believe the selection of MySizeID by multiple retailers from across the world validates the need for innovative solutions that can solve consumer pain points during the path to purchase online – particularly due to confusion with sizing.”
Again, it’s comments like that that likely played a role in the trading day MYSZ stock had on Friday.
According to Yahoo Finance, as of 4:00 PM, MYSZ stock was trading at $0.75, which puts MYSZ stock up 22.53%.
What is MySizeID?
It’s all well and good to say MYSZ stock soared today because of the news about MySizeID, but what actually is it?
Well, MySizeID is a solution that helps online shoppers select the appropriate apparel size for the brand they’re looking at. It does so by taking into account the online shopper’s real-time body measurements.
Takeaway
What do you think about MYSZ stock shooting up after the news? Was it deserved?
Let us know what you think in the comments below!
Featured image: DepositPhotos
