Movano Stock Soars 177% On Announcing All-Stock Merger With AI Cloud Firm Corvex

(RTTNews) - Movano Inc. (MOVE) jumped 176.62 percent to $13.19 on Monday after the company announced an all-stock merger with Corvex, an AI cloud computing firm focused on GPU-accelerated infrastructure.

Through its Amplified AI Cloud platform, Corvex will expand its push into large-scale, secure AI computing and go public as a result of the deal.

After closing at $4.77, MOVE is now trading at $14.98. Since opening at $13.52, the stock has fluctuated between $10.76 and $21.23 today on the nasdaq. The trading volume jumped to 40.8 million, which was significantly higher than its average of 0.24 million.

The 52-week range of the shares is $4.67 to $69.68.