Why KWESST Micro Systems Shares Are Skyrocketing

KWESST Micro Systems Inc KWE shares are trading higher by 17.83% to $3.37 after the company provided a corporate update following its Nasdaq listing and completion of financing.

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The company provided a corporate update following successful closing of its Nasdaq listing and $14.1 million financing, as announced December 7^th and December 9^th, 2022 respectively.

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David Luxton, Executive Chairman at KWESST, commented, "With our successful IPO and listing on Nasdaq we have added many new shareholders, so we felt it appropriate to provide a general corporate update and outlook as we head into the holiday season and an exciting new year ahead. The Company's strong cash position and expected order flow should enable us to execute on a substantial growth plan well into the future."

According to data from Benzinga Pro, KWE has a 52-week high of $3.90 and a 52-week low of $2.63.