Shares of Siyata Mobile Inc. (NASDAQ: SYTA) experienced a sharp rise of 14.39%, reaching $5.62, following the announcement of a significant new order. SYTA disclosed securing a deal to supply several thousand SD7 handsets and related accessories to a prominent transit authority in the western United States.
The New Partnership
The deal marks a key milestone in Siyata Mobile’s ongoing expansion within the transit and public works sectors across the country. The transit authority, which handles tens of millions of passengers every year, is updating its communication systems by using Siyata’s Push-to-Talk over Cellular (PoC) technologies to replace antiquated radio-based infrastructure.
Another Joint Venture
Siyata Mobile has strengthened its market position by working with JVCKenwood USA in addition to this order. Through this partnership, its SD7 handsets will be marketed under the Kenwood brand, targeting JVCKenwood’s channel partners and critical business customers.
The Safety & Security Sector of JVCKenwood USA introduced these PoC handsets as part of their offerings for enterprise and public service workers, enabling instant communication via a nationwide cellular network. JVCKenwood’s extensive distribution network of thousands of dealers across North America is set to further amplify the reach of Siyata Mobile’s devices.
Advancing Communication Technology
JVCKenwood has a long history of providing its clients with state-of-the-art communication solutions. It is anticipated that the addition of Siyata’s PoC technology to JVCKenwood’s LMR portfolio would enhance operational safety and communication dependability in emergency scenarios. The partnership signifies a shared commitment to providing innovative communication tools for essential sectors.
Stock Performance and Industry Insights
As of now, SYTA stock is listed as “Undervalued” on our ST screeners, with other companies like VISL and ANVW also showing promising valuations. For investors, the Communication Equipment industry presents diverse opportunities for growth. A detailed list of undervalued stocks in the industry is available through our screener for better investment opportunities.