Ritchie Bros. Awarded U.S. Department of Defense Contract

Ritchie Bros. (RBA) announced on December 28 that the company was officially awarded two new contracts with the Defense Logistics Agency (DFA), a part of the U.S. Department of Defense. Under the contracts, Ritchie Bros. will purchase, sell, and manage non-rolling stock surplus assets for both the East and West regions. Non-rolling stock assets include non-wheeled items such as electrical equipment, industrial machinery, and spare parts. The contract has a base term of two years with four separate one-year renewal options.

 

Sonal detected the event and sent an alert to subscribers at 7:00 am. The next trade took place when regular market trading opened for the day at $29.37. The stock closed at $29.66 on the day of the event, but the price continued to trend higher over the next few trading sessions. Ritchie Bros. stock closed at $31.24 on January 5, 2018. Investors had the opportunity to earn just over 6% in the six trading sessions following the event.

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