Why Technical Communications Corp Shares Are Rocketing Higher
Shares of Technical Communications Corporation (NASDAQ: TCCO), a company that is involved in communications security devices, systems and services, soared higher by more than 35 percent on Wednesday.
The company said in a regulatory filing that it received a customer order valued at $2.373 million from Datron World Communications, a privately owned California-based company that provides HF and VHF military voice and data radio products, for its military-grade DSP 9000 radio encryption equipment.
According to Technical Communications' website, the DSP 9000 encrypts communications over HF/UHF/VHF channels and are available for air, land and sea applications.
Technical Communications' stock values the company at just $5.41 million and an average of 46,496 shares trade hand during a typical trading session. By late Wednesday morning more than two million shares traded hands in reaction to the company's announcement of a contract win.
At last check, Technical Communications was up 36.19 percent at $3.20.
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