Home Financial Markets Penny Stocks Airboss Of America (ABSSF) Stock Took A 26% Leap Yesterday. This Is...

Airboss Of America (ABSSF) Stock Took A 26% Leap Yesterday. This Is The Reason Why

The innovative survivability solutions provider AirBoss of America Corp (OTC: ABSSF) surged up 26.26% to $25.000 at yesterday’s close. Performed on a weekly basis, the ABSSF stock has grown 51.06%, while on a monthly basis; AirBoss stock has grown 76.16%.

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Performance in brief:


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AirBoss of America shares grew 71.7% on a quarter-to-quarter basis but were able to grow by 454% on an annual basis, with a YTD growth of 106% and a 6 months growth of 73.91%. In the last 52 weeks, the ABSSF stock was $3.1986 – $25.109, meaning it rose 684 percent from its 52-week low but distanced only by 0.44% from its 52-week high. The rise came because of a significant contract award to ABSSF’s subsidiary.

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The contract was awarded for what?

As a leading provider of innovative survivability solutions, AirBoss offers an advanced line of custom rubber compounds and finished rubber products that consistently outperform in the most challenging environments. Since 1989, the company has operated through three divisions, namely AirBoss Rubber Solutions, AirBoss Defense Group, and AirBoss Engineered Products.

The U.S. Department of Health and Human Services (“HHS”) has awarded a contract valued up to $576 million to AirBoss of America’s wholly-owned subsidiary AirBoss Defense Group (“ADG”), as announced AirBoss of America on Tuesday.

  • HHS awarded the contract to acquire nitrile gloves for the Office of the Assistant Secretary for Preparedness and Response (ASPR) to be used in examining patients.
  • Having provided ADG with authorization to proceed immediately with a first-order totaling up to US$288 million, HHS may exercise a follow-on option similar to this for an additional US$288 million later in 2021.
  • The award builds on ADG’s well-established reputation for providing various protective measures and survivability solutions to the US Government.
  • The DHS, FEMA, and the VA have acquired 150,000 of ADG’s proprietary powered air-purifying respirators (PAPR) during the last year, with over 3.6 million PAPR filters and other related accessories, including spare protective hoods.

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Last but not least,

ADG is a leader in providing the dependable and resilient protection that the chemical, biological, radiological, nuclear, and explosive communities (CBRNE) demand. The current award further establishes the domestic leadership of ADG in survivability and protective solutions.

 

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