The stock of Nisun International Enterprise Development Group Co., Ltd (NISN) gained in the current market after the company announced in a press release about its entering into a supply chain agreement with Henan Shiwugu. The stock of NISN was valued at $2.88 in the current market gaining more than 3.6% from the previously closed value. At the end of the last trading session, the stock closed at around $2.78. The volume of the stock traded in the last trading session was around 432.38K shares.
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Reason for the NISN Stock gain
Nisun International Enterprise Development Group’s innovative comprehensive solutions provide the company with the help of integration of technology, industry, and finance. They announced today that they have entered into a cooperative supply chain deal with Henan Shiwugu. According to the deal, Nisun will stick to an open policy to import grain products, providing procurement and other services as well as they will help Shiwugu to expand its market share.
Shiwugu deals in the processing and sales of pre-packaged foods, bulk foods, and agricultural products. As a result of its healthy, nutritious products and high-quality services, Shiwugu has gained a valuable market reputation. Despite this success, the market restraints, various grains imported from Uzbekistan and Laos cannot meet Shiwugu’s increasing demand. This limits its plans for growth and expansion.
According to the deal, Nisun will use its technological advantages, fully mobilize and integrate market resources to improve efficiency and optimize resource integration in Shiwugu’s supply chain. Also, Nisun will depend on its adequate capital resources, to further help Shiwugu by importing grains and other agricultural products from the markets around the world by reducing costs and developing new infrastructure. Nisun will continue using its advancements to help SMEs like Shiwugu, to provide customized services.
Effect on the stock
The news from NISN had a positive effect on the stock of the company. It depicts a strong balance sheet of the company which is a key point for the investors to invest in a stock. Its support for small businesses and enterprises is also a good sign for its stock gain.
Conclusion
Investors should consider a company that has a strong balance sheet. NISN seems to have enough cash in hand to help the Shiwugu in its operations and supply chain.
