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Stock impact report

SAExploration's stock nearly triples after being awarded $27 million contract in Greece [MarketWatch]

SAEXPLORATION HOLDINGS (SAEX) 
US:NASDAQ Investor Relations: investors.saexploration.com
Company Research Source: MarketWatch
Shares of SAExploration Holdings Inc. nearly tripled--up 176%--in active premarket trading Wednesday, after the oil field services company said it was awarded a new land seismic acquisition contract in Greece. Trading was 3.7 million shares, compared with the full-day average of about 153,000 shares. The company said the contract is valued at $27 million, and is expected to begin "as soon as practical" after travel restrictions resulting from the COVID-19 pandemic are lifted in Greece. The company expects the work to be completed in 90 to 120 days. To put the deal in context, the company recorded revenue from services of $255.2 million in 2019, up from $98.7 million in 2018. The stock had tumbled 62.5% year to date through Tuesday, while the S&P 500 has lost 15.3%. Show less Read more
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