POET Technologies soars on manufacturing deal with Globetronics

Investing.com — Shares of Toronto-listed POET Technologies (OTC:POETF) Inc. experienced a significant rise on Friday, peaking at a 32% increase.

This surge brought the shares to their highest level since March 2022. The rise in stock value follows the company’s announcement earlier this week of a manufacturing agreement with Globetronics Manufacturing in Malaysia.

In the agreement, POET Technologies stated that it has engaged Globetronics to assemble and test optical engines.

These engines are based on designs that are exclusively created by POET. The collaboration between POET Technologies and Globetronics Manufacturing indicates a new phase of manufacturing capabilities for the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.