After the business disclosed a fresh order from the U.S. Navy on Tuesday, Laser Photonics’ (NASDAQ:LASE) stock is soaring.
The LPC-1000CTH CleanTech Laser Blasting System is what was ordered. For operations, maintenance, and repair of submarines, it also has an integrated water chiller (MRO). This order will be fulfilled by Laser Photonics this month.
A 1000-watt handheld laser cleaner is called the LPC-1000CTH. It provides medium-sized jobs with surface treatment as well as Industrial Grade Professional level laser cleaning. The gadget functions without a separate computer and has a touchscreen for choosing possibilities.
What this Means for LASE Stock
Wayne Tupuola, CEO of Laser Photonics, said the following in a news release.
‘We believe the U.S. Navy can benefit significantly from our CleanTech Laser Blasting systems in its $22 billion annual fight to control corrosion across the fleet. Over time, we hope to expand on this initial order as the U.S. Navy realizes our technology’s health, safety and efficiency benefits.”
Wayne Tupuola, CEO of Laser Photonics
Investors also hope that the Navy places additional orders for more systems. There is a lot of excitement today since 42 million shares are trading as of this writing. Compared to its daily average trading volume of 1.8 million shares, that represents a significant increase.
As of Tuesday morning, LASE stock had increased by 54.5%.
This article was originally published on investorplace.com.
