Why KWESST Micro Systems (KWE) Stock Is Skyrocketing
Portfolio Pulse from Henry Khederian
KWESST Micro Systems Inc (NASDAQ:KWE) shares surged by 75% to $0.69 after being awarded a sub-contract by Thales Canada to deliver specialized software services for the Canadian Department of National Defence’s Land C4ISR contracts. The contract is valued at up to CAD $48 million over six years.
June 10, 2024 | 3:05 pm
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KWESST Micro Systems Inc (NASDAQ:KWE) shares surged by 75% to $0.69 after being awarded a sub-contract by Thales Canada to deliver specialized software services for the Canadian Department of National Defence’s Land C4ISR contracts. The contract is valued at up to CAD $48 million over six years.
The significant increase in share price is directly tied to the announcement of a substantial sub-contract with Thales Canada, which is expected to generate up to CAD $48 million in revenue over six years. This contract enhances KWESST's strategic position in defense and public safety sectors, likely driving investor optimism and short-term stock price appreciation.
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