MIND Technology Stock (MIND): Why The Price Jumped Today

By Amit Chowdhry ● Dec 14, 2021
  • The stock price of Mind Technology Inc (NASDAQ: MIND) increased by over 35% pre-market today. This is why it happened.

The stock price of Mind Technology Inc (NASDAQ: MIND) increased by over 35% pre-market today. Investors are responding positively to the company announcing that it has entered into a Cooperative Research and Development Agreement (CRADA) with the United States Navy’s Naval Surface Warfare Center, Panama City Division (NSWC PCD).

The CRADA — titled, “Advanced Mine Finding” — will allow scientists and engineers from MIND and the US Navy to collaborate on optimizing the next generation of mine-hunting sonar systems to ensure that they fit the needs of the warfighter.

KEY QUOTE:

“Through our subsidiary, Klein Marine Systems, MIND has a long history of supporting the US Navy. I’m thrilled that this CRADA will allow us to leverage the expertise of the scientists and engineers at NSWC PCD to provide innovative solutions to the warfighter, now and into the future. This agreement demonstrates our corporate focus on innovation and new technology, which has delivered game-changing capabilities such as our unique full-swath MA-X sonars, will continue to define the gold standard in underwater sensing.”

— MIND’s Chief Technology Officer Andy Meecham

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.