Why Vuzix Shares Are Rising Today

Vuzix Corp VUZI is trading higher Monday after the company announced that it entered into an agreement with Verizon Communications Inc VZ.

Through the agreement, Vuzix aims to leverage the power of Verizon's 5G and edge computing technologies to deliver an augmented reality experience for sports and gaming.

The companies plan to combine Verizon's 5G service and edge compute platform with Vuzix's Shield smart glasses to deliver immersive augmented reality training experiences.

"By leveraging Verizon's 5G Edge and ultra-light weight AR smart glasses from Vuzix, we are delivering immersive technology in the field of sports training and fan experience," said Brian Mecum, vice president of device technology at Verizon.

"5G and edge compute are important elements to ultimately deliver low latency and optimal performance of powerful smart glasses-based applications," said Paul Travers, president and CEO of Vuzix. 

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Vuzix is a supplier of smart-glasses and augmented reality technologies and products for the consumer and enterprise markets. 

VUZI Price Action: Vuzix has traded as high as $32.43 and as low as $8.07 over a 52-week period.

The stock was up 4.48% at $9.68 at time of publication.

Photo: courtesy of Vuzix.