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Why Is Laser Photonics (LASE) Stock Up 55% Today?

  • Laser Photonics (LASE) stock is soaring after getting an order from the U.S. Navy.
  • This is for one of its handheld laser cleaning devices.
  • The company will deliver that order this month.
LASE Stock - Why Is Laser Photonics (LASE) Stock Up 55% Today?

Laser Photonics (NASDAQ:LASE) stock is taking off on Tuesday after the company revealed a new order from the U.S. Navy.

That order is for an LPC-1000CTH CleanTech Laser Blasting System. It also includes an integrated water chiller for submarine maintenance, repair, and operations (MRO). Laser Photonics is set to deliver that order this month.

The LPC-1000CTH is a 1000-watt handheld laser cleaner. It offers Industrial Grade Professional level laser cleaning, as well as surface treatment for medium-sized jobs. The device also features a touchscreen for selection options and works without the need for an independent computer.

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.

Investors are also hoping the Navy continues to order more units. Excitement is high today with some 42 million shares on the move as of this writing. That’s a massive surge in trading volume compared to its daily average of 1.8 million shares.

LASE stock is up 54.5% as of Tuesday morning.

Investors seeking out more of the latest stock market news will want to keep reading!

InvestorPlace is home to all of the latest stock market news traders need to know about on Tuesday! A few examples include what’s happening with shares of Ginkgo Bioworks (NYSE:DNA), Coinbase (NASDAQ:COIN), and Taiwan Semiconductor (NYSE:TSM) stock today. You can read up on all of this news at the following links!

More Monday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/10/why-is-laser-photonics-lase-stock-up-55-today/.

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