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Saturday, July 2, 2022

Why CynergisTek [CTEK] is Skyrocketing Today?

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CynergisTek, Inc. [AMEX: CTEK] skyrocketed 24.73% during the trading session of Wednesday. The positive performance of the firm indicated the positive sentiments of the investors after the firm disclosed that its division Redspin has become the first organization that has passed the Cybersecurity Maturity Model Certification (CMMC) Level 3 certification as a Candidate CMMC Third-Party Assessor Organization (C3PAO).

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It has been disclosed that the US DoD is planning to cut the projected $600 billion in cybercrime losses influencing the nation’s military supply chain every year by demanding a third-party cybersecurity assessment of contractors with access to federal contract information (FCI) and controlled unclassified information (CUI).

Shares of CynergisTek, Inc. [AMEX: CTEK] soared 24.73% as it gained +0.46 at the time of writing on Wednesday. The firm has recorded a trading volume of 4.22 million as compared to the average volume of 78.76K. In the past 52-week of a trading session, the share oscillated $0.96 from its 52-week low range. Furthermore, its shares fluctuated $2.90 from its 52-week high range. CTEK has a total market capitalization of $22.19 million at the time of writing.

Redspin can now work contractually with Organizations Seeking Certification (OSCs) after this authorization. Additionally, it is now able to carry out evaluations based on CMMC Levels 1-3. In the CMMC model, Defense Industrial Base (DIB) contractors cannot bargain on security. It becomes a compulsory obligation to gain or repair a DoD contract.

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