The stock of Siyata Mobile more than quadrupled on Tuesday after the business announced a $1.3 million purchase order for police and first responder clients in the EMEA region.
The purchase is for the company's SD7 devices, VK7 vehicle units, and other accessories, which were just released. It's a big transaction for Siyata, bringing its total year-to-date SD7 and VK7 orders to more than $1.8 million.
The company's stock soared to a new high of $6.71 in response to the announcement.
"We expect this adoption trend to continue, given the unique technical capabilities of our product portfolio and the value-proposition they represent to enterprise and first-responder customers," said Siyata CEO Marc Seelenfreund.
Siyata, a provider of Push-to-Talk over cellular devices and cellular signal booster systems, has seen its stock drop more than 40% this year after hitting a high of $15.75 in February.