While it is true that the Infinite Group Inc (OTCMKTS:IMCI) stock was trading in a range on Tuesday, it is necessary to noted that the company’s subsidiary unit IGI CyberLabs made a major announcement yesterday. It may be a good move from investors to perhaps consider taking a look at the announcement.
Market Reaction
On Tuesday, IMCI stock fell 0.40% at $0.2789 with more than 27K shares, compared to its average volume of 25K shares. The stock moved within a range of $0.2400 – 0.2800 after opening trade at $0.28.
IGI CyberLabs Partners With ThreatAdvice to Include Nodeware(R) Solution in Breach Prevention Platform
IGI CyberLabs announced that it had gone into a partnership with the cybersecurity management solutions focussed company ThreatAdvice. The company offers its services to the Managed Service Provider industry. As per the provisions of the partnership agreement, IGI CyberLabs seeks bring about an integration between its own Nodeware with the cybersecurity management solution that is provided by ThreatAdvice.
It was a fairly significant development for the company and by extension for Infinite Group. However, the announcement did not lead to any excitement among investors and the stock remained in a range.
It is going to be interesting to see if the Infinite Group stock does manage to make a move either way in the coming days as more information emerged with regards to this partnership between IGI CyberLabs and ThreatAdvice. It may be a good time to keep an eye on the price action in the Infinite Group stock.
Key Quote
“We are excited to partner with industry leader ThreatAdvice to help integrate Nodeware’s vulnerability management program with their Breach Prevention Platform,” said Stuart Cohen, President of IGI CyberLabs. “The enhancements we have made to our API allows for seamless integration into platforms like ThreatAdvice to dramatically improve productivity for MSPs and the clients they serve. The combination of Nodeware and ThreatAdvice is a powerful tool to help improve cyber resiliency and protection for SMBs.”
Traders Review
IMCI stock is trading above the 20-Day and 50-Day Moving averages of $0.21 and $0.18 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.16.
