Mobix Labs Shares Skyrocket 144% On US Navy Production Order Update

(RTTNews) - Mobix Labs, Inc. (MOBX) shares surged 143.71 percent to $0.4305, up $0.2535 on Tuesday, after the company provided an update tied to a production purchase order supporting the U.S. Navy's Tomahawk cruise missile program.

The stock is currently trading at $0.4305, compared with a previous close of $0.1770. It opened at $0.4582 and has traded between $0.3850 and $0.5300 during the session on the Nasdaq. Trading volume has exploded to 311.67 million shares, far exceeding its average volume of 16.04 million shares.

The order supports near-term manufacturing schedules and increased volumes of Mobix's high-reliability filtering component integrated into the defense supply chain. The stock has traded in a 52-week range of $0.1310 to $1.4400.