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WAVX, MU: Wave Systems Stock Soars on Micron Deal

The expect to make further announcements this fall


On Tuesday, Micron Technology (MU) and Wave Systems (WAVX) announced that they are expanding their online security partnership. Investors liked the news, sending WAVX stock soaring more than 50% in morning trading.

Source: iStockphoto

WAVX stock jumped after Wave Systems and Micron said they were developing data protection solutions for IP-connected devices. The two companies have been working together to create enhanced security for Micron’s self-encrypting SSD drives. WAVX and Micron expect to make further announcements regarding upcoming products from the partnership during the second half of this year.

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Micron produces advanced semiconductor systems, including DRAM, NAND and NOR Flash memory technology. MU stock rose slightly in Tuesday morning trading.

WAVX stock closed at $1.01 per share on Monday. Over the past 12 months, WAVX stock has dropped more than 50%.

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