CEA Industries Stock More Than Doubles On New Deal

Shares of nano-cap company CEA Industries Inc. (CEAD) surged over 123% on Tuesday morning after its subsidiary secures deal from Greene Brothers Farm.

CEAD is currently trading at $2.28, up $1.26 or 123.53%, on the Nasdaq, on a heavy volume of 28 million shares, above average volume of 0.3 million. The stock opened its trading at $1.25 after closing previous trading day at $1.02.

CEA Industries' subsidiary, Surna Cultivation Technologies LLC, announced it has entered into a letter of intent to provide products and mechanical engineering services over five phases with Greene Brothers Farm, a family owned and operated farm that is developing a 26-acre site exclusively for indoor cannabis cultivation.

CEA Industries anticipates contract revenues of approximately $10 million over an estimated two to three-year period. The initial contract, valued at $1.2 million, is for the first phase of products and services and is planned to be completed by early fourth quarter 2022.

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