Aeluma is trading at $17.70 (6.2% up), extending a multi-day rally after signing a Letter of Intent with the U.S. Department of Commerce for up to $30 million in CHIPS and Science Act R&D funding.
- The move comes as investors continue to re-price the impact of potential government support for the company's research and development initiatives.
- Shares are also benefiting from broader strength in the semiconductor sector as positive sentiment lifts chipmaker stocks across the board.