Why V2X Stock Was Bouncing Higher This Week
Integrated defense company V2X (NYSE: VVX) was a popular title on the stock exchange in recent days. Following its news of a big-ticket government contract, investors flocked to V2X shares. This rocketed their price up by more than 15% week to date as of Friday before market open, according to data compiled by S&P Global Market Intelligence.
Wednesday was an exciting day for V2X. That's when the defense company announced the deal, which by its estimation is worth $3.7 billion across a five-year period. The counterparty is a very reliable client, the U.S. Army, and the contract covers the provision of "readiness capabilities," to Army units around the world.
V2X added that the core of this job is what's termed "mission enablement services" for the Army's many training aids, devices, simulations, and simulators. The company will provide a range of service and support functions for these devices, which are located both in this country and in many locations abroad, and number in the hundreds of thousands.
Source Fool.com
