India, April 13 -- Shares of Aeluma, Inc. (ALMU) jumped over 45% on Monday morning after the company announced new government-backed contracts.
The stock is currently trading at $15.81, up $5.05 or 46.93%, on the Nasdaq. It opened at $14.00 after closing the previous session at $10.76. The stock has traded between $6.08 and $25.88 over the past 52 weeks.
Aeluma secured more than $4 million in U.S. government contracts to advance its semiconductor platform for quantum and high-speed data communications.
The funding supports scaling wafer production and strengthens partnerships with Tower Semiconductor and Sumitomo Chemical Advanced Technology.
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