Intrusion Inc (NASDAQ:INTZ) shares are trading lower by 19% to $0.35 Wednesday morning. The stock is trading lower, likely on profit-taking following Tuesday’s surge, after the company was awarded a $5 million multi-year shield agreement with a telecommunications provider.
What Happened?
Intrusion announced a five-year agreement for a phased rollout of Intrusion Shield, set to begin in the fourth quarter of 2023 after a successful pilot in the first quarter. The company’s CEO, Tony Scott, emphasized the importance of protecting critical infrastructure from cyber threats and the success of their partnership-based market strategy.
While additional contract details will be disclosed once implementation plans are finalized, Intrusion has also signed four other contracts in the third quarter of 2023, expected to grow over time.
According to data from Benzinga Pro, INTZ has a 52-week high of $5.45 and a 52-week low of $0.27.
