- The LASE stock jumped over 51 per cent on Thursday morning.
- Its trading volume was over 15 million during writing.
- The beverage firm, Coca-Cola Company has implemented the company's solution.
The stocks of Laser Photonics Corporation (NASDAQ: LASE) were among the top percentage gainers in the morning trading on Thursday, October 13, reflected by the significant jump in its price.
Following some recent developments of the machine-industry company, Laser Photonics Corporation, its stock price shot up over 51 per cent on October 13. The market participants might have lauded the recent announcements made by the company.
Here we would take a little dive into the details of their recent developments, before exploring its stock performance.
Why is it rising?
Laser Photonics is an industrial company that specializes in high-tech laser solutions. It provides its laser solutions for laser marking, cutting, engraving, and other related uses. The company claims to provide its services to the manufacturing industry including automobile, aerospace, defense, chip, and other related sectors.
On October 13, the Orlando, Florida-based firm said that its first CleanTech Handheld Laser Blasting solution is implemented by the leading beverage firm, Coca-Cola Company (NYSE: KO). Coca-Cola has implemented the solution at one of its manufacturing plants.
The Chief Executive Officer (CEO) of the high-tech laser solutions provider, Wayne Tupuola, have extolled the announcement while saying that it is "another proven use case" for their innovation. He further claims that its solutions have allowed the beverage company in reducing the preparation time while boosting its output speed.
The CleanTech Handheld LPC-50CTH Laser technology is an air-cooled pulse laser solution, that helps to rough or finish almost any surface. It is designed as an entry-level laser cleaning and surface treatment solution for small areas that require exquisite cleaning, and other surface preparations.
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The trading price of the LASE stock increased by 51.22 per cent at 9:37 am ET on Thursday, October 13, to trade at US$ 4.4157, and its volume during writing was over 15.16 million. In the previous trading session, the LASE stock closed at US$ 2.93.
Meanwhile, the LASE stock had closed at around 44 per cent higher on October 11 from its prior session, after it announced receiving an order from the US Navy for delivering the LPC-1000CTH CleanTech Laser Blasting System this month, along with an integrated water chiller for maintenance, repairing, and operations of the submarine.