Vislink Technologies, Inc. (VISL) specializes in designing and manufacturing wireless communications solutions. It also develops and sells microwave communications machinery utilizing coded orthogonal frequency technology.
VISL stock soared 11.7% and had an increment of 166.8% since starting of 2021. Vislink Technologies, Inc. (NASDAQ:VISL) share price had risen 291% in the year 2020 as well, expecting a good top-line growth for the company.
The Department of defense Contract That Has Vislink Shares Soaring.
According to an official statement by Vislink, the department of defense has requisitioned surveillance technology and machinery worth of a whooping $4M. This high-tech equipment allows ground soldiers to have a live ariel view of their surroundings, from ariel sources.
Vislink emphasizes that its portable equipment grants real-time data and situational awareness to soldiers on the ground. The devices are rugged and light, hence are adequate for military combat situations.
Vislink expansion- something to look out for?
Vislink will supply six manual Mantis MSAT satellite antennas to Asharq News to create a link between its regional news centers and economic markets in Riyad, Cairo, Abu Dhabi and key Arab capitals with low latency financial news. Partnering with Asharq News—the Middle East’s first economic- and financial-focused news channel—is a strategic order for Vislink as it depicts how Vislink is penetrating the global market with its rugged yet light weight products.
News of the massive expansion of Vislink and military contracts with DoD create interest in VISL stock for investors, increasing Vislink’s daily average trading volume to roughly 12 million shares.
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Vislink, an American based wireless communication manufacturer creates a total revenue of $24.5M. Its plan for global expansion and contracts with US Armed forces has surpassed investor expectations and dramatically increased the share-price of the company.