Pareteum Awarded New $10 Million Contract

Pareteum Corporation (TEUM) announced on February 28 that the company was awarded a new contract worth $10 million. Under the terms of the contract, Pareteum will launch a global Mobile Virtual Network Operator for an established Carrier. Pareteum will leverage the connectivity of its Global Cloud Platform to service 300,000 subscribers once it becomes fully deployed.

Sonal received the news and notified subscribers at 8:00 am. The next trade took place at 8:01 am for $2.16. The market opened for regular market trading at $2.10. Pareteum’s stock closed at $2.28 and continued to rise over the next five trading days. The stock closed at $2.80 on March 7, which is a gain of 33% in the week after the event.

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