The Internet of Things (IoT) sector has managed to pique the interest of investors in recent times and there are now plenty of companies one could consider tracking. One of those could be that of the Canadian IoT company Danavation Technologies Corp (OTCMKTS:DVNCF), which is also involved in providing micro e-paper displays.
Market Action
On Wednesday, DVNCF stock ended flat at $0.28 with 2.5k shares, compared to its average volume of 10K shares. The stock has moved within a range of $0.2800 – 0.2800 after opening trade at $0.28.
Announces Digital Smart LabelsTM to be Installed at Coleman’s Food Centre in Newfoundland
However, at the same time, it is also necessary to note that the Danavation Technologies stock has performed poorly over the course of the past month and during that period, it has declined by as much as 28%. As it happens, the company was in the news yesterday and it may be a good move to take a look at the development.
The company announced yesterday that it was going to install its Digital Smart LabelsTM and Platform-as-a-Service (PaaS) technology at the Coleman’s Food Centre location. More importantly, it is necessary to point out that this is only the first installation and these installations are going to take place in as many as a total 13 locations owned by Coleman’s. While it is a major development, it did not lead to a reversal in fortunes for the company and it now remains to be seen if the stock comes back in favour among investors.
Key Quote
“We are very excited to develop our relationship with a well-respected, family-owned enterprise such as Coleman’s, and to undertake our first installation into the province of Newfoundland. Our clean and modern Digital Smart LabelsTM and PaaS solution can be seamlessly integrated with Coleman’s other systems to improve operational efficiencies,” said John Ricci, CEO of Danavation. “In addition, the customization features will help the location meet their unique needs, including tailoring to customer preferences and going greener by reducing paper waste which aligns well with Coleman’s strong ESG and community-driven focus.”
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