The GetSwift Ltd (ASX: GSW) share price gained almost 2% on Wednesday's trade to close at $2.59 as the company announced a new deal with international restaurant franchise Johnny Rockets.
Media darling GetSwift, founded by former AFL footballer Joel McDonald, has seen its share price rocket in the past six months, increasing by 270% since trading at 0.70 cents in late May.
The swift rise in the digital logistics company's stock value has been accompanied by a barrage of positive price sensitive announcements.
On Monday, GetSwift announced it had achieved its "second performance milestone" by exceeding 375,000 deliveries per month.
Earlier this month GetSwift announced it had surpassed 3 million deliveries.
A couple of weeks before that, GetSwift signed a deal with N.A. Williams, the leading representative group for the North American Automotive Sector, according to GetSwift.
GetSwift Executive Chairman Bane Hunter described the deal as a "transformative agreement".
That deal added to the list of GetSwift's growing clients, which include brewer Lion Nathan, Pizza Hut, Commonwealth Bank of Australia (ASX: CBA) and Mitre 10, owned by Metcash Ltd (ASX: MTS).
Now GetSwift says its latest "transformative agreement" with Johnny Rockets will allow the delivery company to crack lucrative markets in the Middle East.
"The Company's indicative estimates are for a transaction yield in excess of millions of deliveries per year upon complete adoption and utilization," GetSwift stated.
"The Company considers this a transformative agreement that will position the Company as an emerging leader in previously untapped markets such as the Middle East, and beyond once this channel is fully implemented.
"The Company is pleased that the overall strategy of becoming a global leader and not just a regional leader is being manifested."
From one point of view, all these transformative agreements sound great.
From another view, they could incite caution as they tend to reinforce the idea of GetSwift being a highly speculative stock.
And it seems one of GetSwift's major investors has decided to offload stock in the logistics company.
Regal Funds Management Pty Limited sold more than 1.8 million GetSwift shares in the last couple of months.
That could turn out to be a wise move.
