Over 55% increase in pre-market explanation
- Creative Realities Inc’s (NASDAQ: CREX) share price rose more than 55% before market launch. That’s why it happened.
Creative Realities Inc’s (NASDAQ: CREX) share price rose more than 55% before market launch. There is no direct news from the company or notable reports from the SEC, so it appears there are some external factors at play.
A catalyst could be PennyStocks with CREX in a weekend post titled “3 Robinhood Penny Titles Under $ 2 To Watch Next Week.” PennyStocks pointed out that during the first quarter, CRI generated approximately $ 5 million in revenue and achieved breakeven operating results, which are in line with expectations communicated in the latest earnings call.
During the recent call for results, CRI CEO Rick Mills said:
“I want to take a moment and talk about a major pending contract, which we first discussed on the previous earnings call. This contract has now been on hold for approximately 16 months, and we are now moving into the contract execution phase. Additional delays in the last quarter were due to continued face mask mandates and occupancy limitations. Once these constraints are removed, we plan to announce the details of this contract later this quarter. Once launched, this contract is expected to generate additional revenue of $ 6 million each quarter for four to six consecutive quarters. As we indicated in our previous call, these results depend on the execution of the contract and the customer’s decision to initiate it. We currently believe that this contract will start running in the third quarter and we will keep you posted. Due to supply constraints, we anticipate a slower initial contract rollout. “
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