MITQ - Moving iMage surges on multiple purchase orders for equipment upgrades

Moving iMage Technologies (NYSE:MITQ) has recently received three procurement contracts for upgrades. The purchase orders are part of a nascent upgrade cycle for aging digital cinema technology and equipment and are fueled by the Shuttered Venue Operators Grant distributed under the Cares Act. The SVOG is an SBA grant assisting eligible venues affected by COVID-19, including motion picture theatre operators. As of November 29, 2021, motion picture operators have received over $1.9B in initial funding and $0.6B in supplemental funding to help them recover from the impact of COVID-19. Shares are up 8.29% PM.

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Moving iMage surges on multiple purchase orders for equipment upgrades