NISN - Why Is Nisun (NISN) Stock Up 17% Today?
2024-06-10 08:18:39 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Nisun (NASDAQ: NISN ) stock is taking off on Monday after the technology-driven integrated supply chain solutions company announced a breakthrough in its egg business .
Nisun has reported that its egg business now has a supply of 20 million eggs on a daily basis. The company notes this comes from its joint procurement model of 3.6 million to 6 million eggs daily alongside its centralized and agency procurement of 3.8 million eggs and supply and marketing cooperatives system models of 10 million eggs.
Nisun notes that this achievement was reached after only entering the egg supply business one year ago. The company says this shows the initial success of its expanding egg supply business and brand awareness.
Here’s a portion of what Nisun said about this progress in a news release:
“Nisun International strives to drive growth, ensure quality, and improve profit margins through strategies such as joint procurement, centralized and agency procurement, cooperation with the state-owned rural supply and marketing cooperatives, and developing its own brand retail business.”
NISN Stock Movement on Monday
Today’s announcement brings with it strong trading of NISN stock. That has more than 50,000 shares on the move as of this writing. That’s roughly half of the company’s daily average trading volume of about 95,000 shares.
NISN stock is up 16.6% as of Monday morning but was down 14.5% year-to-date when markets closed on Friday.
Investors will want to keep reading for even more of the latest stock market stories today!
We have all of the hottest stock market news traders need to know about on Monday! Among that is a company going public, the biggest pre-market stock movers this morning and more. All of this info is ready to go at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
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