Stocks closed at a record high Wednesday as the US markets closed early for the fourth of July. And among today’s trending tickers is OSS stock, which closed the day up nearly 30%.
Here’s why.
OSS Stock Goes Flying: What Gives?
On July 3, One Stop Systems (NASDAQ:OSS) said it signed a five-year OEM and supply agreement with Disguise Systems for entertainment and media servers. For those who don’t know, One Stop Systems is a California company that designs and manufactures specialized high-performance computing modules and systems. These products are used for deep learning, AI, and finance and entertainment applications.
The most important takeaway from the deal is that the agreement has a minimum business level to One Stop Systems of $60 million over the five-year period. Further, OSS will receive exclusive manufacturing rights for various system level products sold by Disguise Systems for shipments to Japan and South America. Shipments will also go to the Americas.
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“This major global OEM contract builds upon our long-standing collaboration with Disguise, a global leader in media and entertainment,” explained One Stop Systems CEO Steve Cooper. He added: “We’ve been proud to support Disguise as a leader in powering the video production of large-scale events around the world, including two Super Bowls and countless live entertainment projects.”
Overall, investors were pleased with the news, sending OSS stock up nearly 30% by the time the market closed. According to Yahoo Finance, as of 1:00 PM EDT, OSS stock was trading at $2.08; this means OSS stock closed Wednesday up 26.06%.
Takeaway
What do you think about the news? Are you optimistic about One Stop Systems signing a five-year agreement with Disguise Systems? If so, do you think OSS stock should have jumped more than it did?
Let us know your thoughts in the comments below and don’t forget to follow along with this story in the coming weeks.
Featured image: PixaBay
