Data Storage (DTST) Stock Soars: What Propels Bullish Momentum?

The shares of Data Storage Corporation (NASDAQ: DTST) exhibited a bullish trajectory in the preceding session, marking an ascent of 18.26% to culminate at $6.67 in trading. This upward momentum in DTST stock ensued subsequent to the appointment of new directors to its governing board.

Data Storage (DTST) recently welcomed Nancy M. Stallone, CPA, and Uwayne A. Mitchell, Esq., as additions to the Company’s Board of Directors. Ms. Stallone will also assume responsibilities as a member of the Audit Committee. Both Ms. Stallone and Mr. Mitchell bring to the table extensive expertise within their respective domains.

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Ms. Stallone boasts a remarkable background in corporate finance, auditing, and accounting, which is poised to be instrumental as DTST pursues its strategic growth initiatives, encompassing international expansion and exploration of accretive acquisition prospects.

Presently, Ms. Stallone serves as Corporate Treasurer and Assistant Corporate Secretary at Comtech Telecommunications Corp., a preeminent global technology enterprise offering terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government clienteles worldwide.

Furthermore, Mr. Mitchell’s legal acumen, coupled with his expertise in data privacy, cybersecurity, and technology, will significantly enrich the DTST board and contribute to its continued growth. He presently assumes the role of privacy counsel at Riskonnect Inc., extending privacy-related legal counsel on business endeavors and initiatives. Previously, he held the position of counsel within the data privacy team at The Government Employees Insurance Company (GEICO).

Moreover, Data Storage has clinched a substantial contract worth six figures with a multinational telecommunications entity, aimed at replacing and maintaining its antiquated tape library with cutting-edge backup technology. The Company has fostered a longstanding relationship with this multinational corporation spanning over a decade, and this newly secured contract builds upon the existing solutions provided by Data Storage Corporation. DTST has sustained a prosperous alliance with this multinational entity for a period exceeding twelve years.

In addition to the equipment and services currently offered by Data Storage, the company has devised, tailored, and is presently implementing an innovative backup solution featuring advanced technology to enhance storage capacity, while minimizing tape usage and adhering to compliance mandates across various jurisdictions. Installation is progressing smoothly, and anticipation is high for continued collaboration with this esteemed organization in the years ahead.

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