ISUZY - Why Is SaverOne 2014 (SVRE) Stock Up 22% Today?
2023-06-07 08:33:41 ET
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SaverOne 2014 (NASDAQ: SVRE ) stock is climbing higher on Wednesday after getting a new order from Universal Trucks Israel .
Universal Trucks Israel is the importer of Isuzu (OTCMKTS: ISUZY ) trucks to Israel. The company has ordered the installation of SaverOne 2014’s In Cabin Driver Distraction Prevention Solution (DDPS) for 40 Isuzu vehicles.
Investors will note this isn’t the first time SaverOne 2014 has worked with Universal Trucks Israel. It also installed roughly 100 of its DDPS products in Isuzu vehicles owned by Universal Trucks Israel last year.
Ori Gilboa, CEO of SaverOne 2014, said the following about the order with Universal Trucks Israel:
“This partnership’s expansion is a testament to our shared commitment to enhance road safety. We see significant untapped potential within our partnership with UTI as well as others, both in Israel and internationally. We are eager to continue to deepen our collaborations, bringing safer driving experiences to more road users.”
How This Affects SVRE Stock Today
Investors in SVRE stock are reacting well to news of the new order from Universal Trucks Israel. As a result, the company’s shares are seeing heavy trading on Wednesday morning. This has some 1.8 million shares of the stock on the move as of this writing. That’s already above its daily average trading volume of about 1.2 million shares.
SVRE stock is up 22.1% as of Wednesday morning, building on a 9.6% year-to-date gain when markets closed yesterday.
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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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