SMX (Security Matters) PLC shares surged by 29.86% in pre-market trading, breaking above the 5-day SMA. This price movement comes amid a broader market decline, with the Nasdaq-100 down 0.41% and the S&P 500 down 0.27%.
The significant increase in SMX's stock price is attributed to the announcement of a $259 million OPIR solution contract with the U.S. Space Force, marking a major expansion in the defense sector. This contract, awarded to SMX's subsidiary Outside Analytics, highlights the company's technical capabilities in real-time data processing and software solutions, enhancing missile warning and tracking capabilities for the U.S. military.
This contract not only strengthens SMX's position in the defense industry but also reflects the growing demand for advanced technological solutions in national security. The collaboration is expected to drive future growth and solidify SMX's reputation as a key player in the defense sector.
SMX (Security Matters) Public Limited Company (SMX) is a business-to-business (B2B) white label technology company. The Company focuses on pioneering its technology in marking, tracking, measuring, and digital platform integration. Its solutions are designed to support businesses in their transition to a low-carbon economy, offering end-to-end traceability and assurance across various sectors. Its technology works as a track-and-trace system using a marker, a reader, and an algorithm to identify embedded sub-molecular particles to track and trace different components along a production process (or any other marked along a supply chain) to the end producer. The Company provides a solution comprising a physical or chemical marker system coupled with a reader and connected to a blockchain digital platform. The Company’s solution offers applications across industries, such as process tracing, authentication, sustainability, and circular economics.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
