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Hyliion Holdings jumps 42.6% on US Navy and DARPA sea trial selection
- Hyliion Holdings experienced a major price and volume breakout after securing a key military validation for its proprietary KARNO power technology.
- The stock surged 42.6% to close at $5.99 on 20.1 million shares traded, which is 8.0 times its 20-day average volume.
- Selection by the U.S. Navy and DARPA provides a massive credibility boost and opens up lucrative defense sector opportunities for the company's power systems.
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Conclusion
HYLN rose from $4.20 (May 21 close) to $5.99 (May 22 close), a 42.62% gain. Volume was 20,125,800 vs. a 20-day average of 2,502,316 (8.04x).