Press Release: nLIGHT Awarded $627 Million Joint Laser Weapon System (JLWS) Contract
CAMAS, Wash.–(BUSINESS WIRE)-- nLIGHT, Inc. (NASDAQ: LASR), a leading provider of high-energy lasers for mission‑critical directed energy applications, today announced it has been selected for a Joint Laser Weapon System (JLWS) Other Transaction Authority (OTA) agreement supporting the U.S. Department of War’s (DoW) next-generation cruise missile defense architecture.
The initial award has a value of $44 million, with a total program ceiling of up to $627 million, inclusive of follow-on development, integration, and potential production options.
I was wondering why the stock was up 15% at first and is now up about 27% at the time of writing. 