Custom Truck One Source, Inc. (NYSE: CTOS) sustained its upward momentum during the post-market trading session on Friday. The company experienced a notable surge, reaching a peak increase of 8.58% and settling at $6.20 in the extended session. The regular trading session also witnessed a substantial rise in CTOS stock, rallying by 9.39% to conclude at $5.71. This positive trend was instigated by the CEO’s strategic purchase of company shares, instilling confidence among investors.
CEO Ryan McMonagle of Custom Truck (CTOS) demonstrated confidence in the company’s prospects by acquiring 20,000 shares at a price of $5.17 per share, resulting in a substantial investment of $103,412. Furthermore, Custom Truck is slated to engage in a fireside chat and hold meetings with institutional investors at the BofA Securities 2023 Leveraged Finance Conference in Boca Raton, FL. The conference, scheduled for Tuesday, November 28, 2023, will feature participation from CTOS CEO Ryan McMonagle and Chief Financial Officer Chris Eperjesy.
In addition to these developments, Custom Truck recently inaugurated its latest facility in Williston, ND, expanding its operational capacity within North America. The two-story Williston facility, situated on over three acres, provides over 10,000 square feet of cutting-edge service capacity. This facility is strategically designed to support the requirements of CTOS’ rental fleet and equipment clientele across the Upper Midwest.
As one of the leading providers of specialty equipment, parts, tools, accessories, and services, Custom Truck caters to the electric utility transmission and distribution, telecommunications, and rail markets in North America through its distinctive “one-stop-shop” business model.
The opening of the Williston location signifies Custom Truck’s commitment to expanding its North American presence. The company aims to offer its specialized equipment to a diverse customer base involved in the maintenance, repair, upgrade, and installation of critical infrastructure assets such as electric lines, telecommunications networks, and rail systems.
This strategic location empowers CTOS to enhance its service capabilities, ensuring that customers across the Upper Midwest have access to well-maintained, mission-critical machinery precisely when they need it.
