Rackspace Technology shares are trading higher after the company announced it was awarded a new Cloud Cooperative Services contract with the Texas Department of Information Resources Cooperative Contracts Program.
Portfolio Pulse from Benzinga Newsdesk
Rackspace Technology (RXT) has been awarded a new Cloud Cooperative Services contract with the Texas Department of Information Resources Cooperative Contracts Program, leading to a rise in its share price.
May 30, 2023 | 3:58 pm
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Rackspace Technology's new Cloud Cooperative Services contract with the Texas Department of Information Resources is expected to boost its share price in the short term.
The new contract with the Texas Department of Information Resources is a significant win for Rackspace Technology, as it demonstrates the company's ability to secure large-scale contracts. This news is likely to increase investor confidence in the company's growth prospects, leading to a short-term rise in its share price.
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