SINTX Technologies (NASDAQ:SINT) stock is rocketing higher on Wednesday after announcing an agreement with the U.S. Army.
This has SINTX Technologies entering into a Cooperative Research and Development Agreement with the U.S. Army Combat Capabilities Development Command Army Research Laboratory (DEVCOM ARL). It will focus on the development of ceramic additive manufacturing and ceramic matrix composites.
SINTX Technologies has a major facility in Maryland dedicated to the development of ceramic 3D printing and ceramic matrix composites. It started testing 3D printing there in the 90s and has been working on ultra-high temperature ceramic matrix composites as well.
Ann Kutsch, general manager of the SINTX Technologies’ Maryland site, said the following about the agreement:
“We have a highly skilled team of engineers and technicians here in Maryland, all of whom are instrumental in pushing this cutting-edge work forward. I look forward to optimizing our offerings in these markets while also working with DEVCOM ARL to build both teams’ knowledge and capabilities in advanced technologies.”
SINT Stock Reactions Today
News of the DEVCOM ARL partnership brings with it heavy trading of SINT stock on Wednesday. That has more than 8 million shares of the stock changing hands as of this writing. This is already well above its daily average trading volume of about 591,000 shares.
SINT stock is up 52% as of Wednesday morning.
Investors looking for more of the latest stock market stories are in the right place!
InvestorPlace is home to all of the hottest stock market news for Wednesday! That includes a breakdown of the biggest pre-market stock movers, the latest news concerning Microsoft (NASDAQ:MSFT) earnings and more. You can read all about these matters at the links below!
More Wednesday Stock Market News
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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.
