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Do You Know Why Nexteer (NTXVF) Stock Jumped 14%?

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As of Friday, the leader in intuitive motion control Nexteer Automotive Group Ltd. (OTCPK: NTXVF) had closed at $1.2000, up 13.85 percent trading within a range of $1.2000 to $1.2160 on the day. The Nexteer stock has experienced a 130.77% gain over the past year, reaching a high of $1.9300 with a $3 billion market cap. NTXVF stock spiked after winning an award.

What was that award for?

Nexteer Automotive is a global leader in intuitive motion control. As a multi-billion dollar global steering and driveline company, NTXVF brings electric and hydraulic power steering systems, steering columns, and drivetrain systems to market. A major part of NTXVF’s business is the development of automated driving technologies for original equipment manufacturers (OEMs) and advanced driving assistance systems (ADAS). In addition to its 27 manufacturing plants, NTXVF has four technical and software centers, as well as 13 customer service centers spread throughout North and South America, Europe, Asia, and Africa.

IDG’s CSO 100 program has named Nexteer an honoree for the CSO50 Award for 2021. A select group of organizations are awarded this award for implementing business-value-driven security projects and initiatives.

One of Nexteer’s winning projects, NEXTINTRUST, provides Internet of Things (IoT), Operational Technology (OT) efforts, as well as asset visibility and security. In addition to providing complete visibility into all Nexteer devices, NEXTINTRUST enables Nexteer to identify the risks these devices pose as well as develop policies to secure them.

How this will help NTXVF?

In combination with Operational Technologies, Internet of Things networks bring significant changes regarding how systems that were traditionally linked are connected today. NEXTINTRUST lets Nexteer (NTXVF) enact proactive control strategies by validating identities, integrating insights, and controlling the use of layered security architecture.

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