Data Storage surges 60% on major pro sports team deal

Data Storage

05/01/2022 17:54

** Data Storage Corp  DTST.O  shares surge 61% to session
high $4.99 on Weds after co announces multi-million dollar
contract with major U.S. professional sports franchise
    ** DTST said will provide modernized and encrypted storage
infrastructure to support the team, the stadium and its
affiliates  urn:newsml:reuters.com:*:nGNX4ns9Tz
    ** Co, which did not identify the customer, refers to it as
"one of the nation’s most recognized professional sports teams"
    ** DTST's shares on Weds last trading up 31.9% at $4.09.
They hit 2021 peak of $38.80 in Feb amid meme-stock trading
frenzy
    ** About 40 mln shares have exchanged hands so far on the
session vs 10-DMA volume of ~82k, per Refinitiv data
    ** Co has ~6.7 mln shares outstanding and ~4.19 mln shares
of public float - Refinitiv
    ** For first 9 months of 2021, DTST reported ~$10 mln of
sales, nearly 50% increase from comparable period in 2020
 urn:newsml:reuters.com:*:nASA02SR4

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))