After a gap-up opening Sypris Solutions, Inc. (NASDAQ:SYPR) stock is not stopping at all as the stock went up as much as 68% and now trading at the high point of the day at $4.72.
Today’s big spike is followed by news that the company’s subsidiary Sypris Electronics has won a follow-on award from a US DoD prime contractor to manufacture and test electronic assemblies for a government spacecraft program.
The company is expected to go ahead with the production in 2021. However, key terms and agreements have not been disclosed yet.
Considering an increase in volume after the news, the stock is in good momentum and may find a hurdle at around the $5 zone, above which the stock may gain further momentum.
If you love to trade high volatile stock, keep an eye on SYPR stock. However, the stock may experience wild moves given the news is out.
SYPR stock is up 700% from its 52-week low of $0.60.
Finance and Tech Contributor