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Newly public Laser Photonics (NASDAQ:LASE) stock shot up 40% in afternoon trading Thursday following news that Coca-Cola has implemented its handheld laser blasting system at its manufacturing facilities.
Shares of the industrial laser technology developer opened at $4.03, reaching a high of $4.49 in early trading before dipping to a low of $3.83 in late morning. The stock recently changed hands at $4.13 at approximately 3:10 p.m. ET.
The company said earlier Thursday that Coca-Cola was using its CleanTech Handheld Laster Blasting System at its plants. The device was being used to help remove corrosion from plastic bottle molds, which could help extend their lives and improve yields.
Laser Photonics went public on Sept. 30 through an initial public offering that raised $15M. The company offered 3M shares priced at $5 per share.
Image and article originally from seekingalpha.com. Read the original article here.