SIMPPLE Ltd. (NASDAQ: SPPL) Stock Hits a Month High: Here is Why

In light of the 19% gain recorded by the SIMPPLE Ltd. (NASDAQ: SPPL) stock on Wednesday, it could be a good time for investors to consider keeping an eye on it this morning.

SIMPLE Ltd. Announces New Contracts and Partnerships in Australia and New Zealand

The company came into focus yesterday after it announced that it executed a number of contracts and partnerships in Australia and New Zealand.

In the news release, it was noted that the contracts included end-to-end integrated compliance solutions and cleaning services at a regional Australian airport and two international ones. Same contracts were signed at five campuses of an Australian university, a food manufacturing facility in Sydney, and a major retail outlet in Sydney.

The Implications

SIMPPLE announced that the yearly revenues generated through these contracts would be around $2.35 million in total. The agreements regarding the partnerships and contracts were closed by the company’s new leadership team at the SIMPPLE Australia Pty Ltd subsidiary in Australia. The subsidiary had been established by the company not too long ago.

The company went on to state that the latest partnerships and contracts that had been signed provided SIMPPLE with a foothold in two lucrative markets. Moreover, it was also an indication that Simple had the capability to move into a wide range of sectors with ease.

Key Quote

“These contracts and partnerships mark a significant step in our strategic expansion into the lucrative Australia and New Zealand markets,” said SIMPPLE Ltd. CEO Norman Schroeder. “These agreements also highlight our company’s capability to venture into a wide range of new sectors covering aviation, education, healthcare, and manufacturing—a significant expansion from our existing retail, institutional, and commercial office sectors.”

Technicals

+/- EMA(20)	0.38 (+10.50%)
+/- SMA(50)	0.36 (+16.64%)
+/- SMA(200)	1.79 (-76.54%)