KULR Technology Group (KULR) stock surged today, closing up over 20%. This impressive jump comes amid a flurry of recent positive news for the company. KULR recently announced it regained compliance with the NYSE American listing standards, addressing a prior stockholders’ equity issue. The company also signed a service agreement to launch its KULR ONE Space battery on a SpaceX rideshare mission in 2026, highlighting its growing presence in the space industry. Further bolstering investor confidence, KULR secured several key contracts, including one with the U.S. Navy to develop high-temperature internal short circuit cells for enhanced battery safety and another with the U.S. Army to develop specialized Phase-Change Material heat sinks for a major missile program. The company also reported record revenue for the third quarter of 2024 and announced a licensing agreement for its KULR Xero Vibe vibration reduction technology worth $2.35 million. These developments, coupled with KULR's involvement in emerging technologies like small modular nuclear fusion reactors and its ongoing partnerships with NASA, paint a picture of a company on a strong growth trajectory.
KULR Stock Soars 20% on NYSE Compliance, SpaceX Deal, and Record Revenue.
Key Points
- KULR Technology Group's (KULR) stock soared over 20% after regaining NYSE American listing compliance and announcing a SpaceX launch agreement for its KULR ONE Space battery.
- The company secured contracts with the U.S. Navy and Army for battery safety and missile technology development, alongside a $2.35 million licensing agreement for its vibration reduction technology.
- KULR also reported record Q3 2024 revenue, further contributing to its positive momentum and highlighting its involvement in emerging technologies like small modular nuclear fusion reactors.
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