Tech Stock Rallies On Two Purchase Orders Announcement

After a pullback from lofty mid-February highs, shares of NTG Clarity Networks Inc. (TSX-Venture:NCI) (OTC:NYWKF) are back on the move higher as the company announced this morning that it has received two purchase orders from a financial institution in the Middle East, valued at approximately $825,000 CAD. NTG will provide software development and help desk support resources for this organization. The work is estimated to start within the next few weeks and should be completed within 12 months.

"We are pleased to receive these POs with this growing financial institution. As they are growing, we are expanding our work with them in new areas. Our work is growing in the financial sector due to the high demand for our expertise in digital transformation. By capitalizing on our digital transformation experience gained through many years in the telecom sector, we are diversifying into the strong and established financial sector." said Kristine Lewis, NTG Clarity’s President.

Shares of NCI popped on today’s announcement with the stock up currently 12.5% to $0.09 in late-morning trading. Despite the pullback from those February highs, shares of NCI are still up about 400% from the early days of 2021.