Benzinga | Aug 18, 2020 12:58PM EDT

Why Forward Industries Stock Is Trading Higher Today

Forward Industries (NASDAQ:FORD) shares are trading higher after the company announced on Monday it has acquired Kablooe Design.

"Kablooe's reputation, expertise and strong track record in being at the forefront of designing and developing innovative medical products is a perfect complement to the group as a whole and I am extremely confident it will afford cross fertilisation opportunities with our subsidiary, Intelligent Product Solutions," said Terry Wise, CEO of Forward Industries.

Forward Industries is a provider of carrying and protective solutions. It designs and distributes product protection for handheld electronic devices.

Forward Industries shares were trading 27.27% higher at $1.73 at time of publication. The stock had a 52-week high of $2.71 and a 52-week low of $0.78.