Stock Alert: SuperCom Surges 250% After Shipping Pilot COVID-19 Quarantine Tech

(RTTNews) - Shares of SuperCom Ltd. (SPCB) surged over 250% on Monday, after the company said it has shipped coronavirus quarantine compliance technology for an immediate pilot.

The microcap company' shares are currently trading at $1.74, up $1.25 or 255.10%, on Nasdaq.

SuperCom provides IoT, connectivity and cybersecurity solutions for public and private sectors.

SuperCom said it has shipped equipment designated for an urgent Pilot of its Coronavirus (COVID-19) citizen quarantine compliance technology. The equipment is comprised of products in SuperCom's PureHealth technology suite to include the PureCare smartphone and PureTag ankle bracelet.

The pilot will run in two operational modes: smartphone only for low-risk cases on a larger scale, and smartphone with ankle-bracelet for more sensitive cases.

The company said the products are designed to assist government efforts in combating the spread of the virus through people location tracking and stay-at-home compliance rules being implemented around the globe.