Shares of Cemtrex jumped about 76% in Tuesday morning trading after its subsidiary Invocon was selected as an apparently successful offeror for a Phase I Small Business Innovation Research (SBIR) contract with the Naval Sea Systems Command. The award is a defense R&D contract; no dollar value was disclosed, but the selection triggered a pronounced one-day equity move.
Shares of Cemtrex jumped about 76% in Tuesday morning trading after its subsidiary Invocon was selected as an apparently successful offeror for a Phase I Small Business Innovation Research (SBIR) contract with the Naval Sea Systems Command. The award is a defense R&D contract; no dollar value was disclosed, but the selection triggered a pronounced one-day equity move.
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