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Google News-Jul 17, 11:45 PM
nLIGHT (LASR) Stock Trades Up, Here Is Why
nLIGHT shares surged 5.6% to close at $69.39, driven by a $627 million defense contract that offset a broader Nasdaq selloff. The laser technology company has recorded 66 moves exceeding 5% over the past year, with today's rally building on momentum from its Joint Laser Weapon System (JLWS) deal with the Department of Defense.
Why it matters: LASR is up 80.8% year-to-date but remains 18.3% below its 52-week high of $84.95, while Q2 revenue of $61.74 million beat estimates with a 22.2% year-over-year increase and adjusted profit of $0.06 per share.