Liquidity Services (LQDT) experienced a surge of 5.01% in its stock price during Monday's intraday trading session. This rally is attributed to the company's recent strategic partnership announcement with Biocom California, the premier life science association in the state.
The partnership allows Liquidity Services to provide Biocom California's 1,800 member companies with exclusive opportunities to buy and sell surplus equipment and inventory through its robust B2B e-commerce marketplace platform. This collaboration aims to help life science companies recapture critical capital, secure savings, and promote sustainability by diverting idle assets from landfills.
According to Elizabeth Maxted, VP of Capital Assets Americas at Liquidity Services, the company is excited to deliver tailored support and excellent returns on undervalued equipment to Biocom California members. This partnership aligns with Liquidity Services' mission to extend the life of assets, prevent unnecessary waste, and reduce products headed to landfills, supporting its clients' sustainability efforts.
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