Why Vuzix Stock Skyrocketed Today

What happened

Sections of Corporra Vuzix (NASDAQ: VUZI), a supplier of smart glasses and augmented reality technology, gathered today after announcing yesterday that a company that makes temperature-controlled vessels for delivering COVID-19 vaccines uses smart glasses Vuzix for training.

The tech stock went up 38.7% and went up 14.4% from 3:38 pm EST.

so what

Vuzix said in a press release that Envirotainer, a company that specializes in cold chain solutions for air transport of pharmaceuticals, is using its smart glasses for the remote training of some of its employees who handle the stores. storage with COVID-19 vaccines.

A curved arrow on top of a gradually rising bar table.

Image source: Getty Images.

Envirotainer chief operating officer Niklas Adamsson said in the news: “We have experimented with other smart glasses in the past but with the outbreak of the COVID-19 pandemic we quickly turned to Vuzix as an industry partner to help by solving operational challenges related to the training of our staff in the field. “

Investors were clearly excited to see that Vuzix technology was being used by companies to train people using temperature-controlled vessels for COVID-19 vaccines.

Today’s share price jump puts the company’s stock up 288% year to date.

Now what

Vuzix did not release any other information in a press release today that reveals how it will gain financial benefit from its Envirotainer smart glass buyer. With the stock jumping so high on just one news, it seems that some investors were getting too pressured about announcing today. Investors may want to proceed with caution, as this stock may be prone to price movements.