Why IperionX (IPX) Shares Are Soaring Higher Tuesday

IperionX, Ltd. IPX shares are soaring over 121% higher after the company announced it will produce titanium components for Ford Motor Company F.
 

The Details: IperionX announced on Tuesday that it has agreed a Scope of Work ("SoW") to supply Ford Motor Company with its titanium metal components. IperionX and Ford have been collaborating to design, test and manufacture high-quality titanium components for upcoming Ford Performance vehicles.

Anastasios (Taso) Arima, CEO of IperionX said, "Ford has a commitment to achieve carbon neutrality by 2050. We are proud to partner with Ford to accelerate the deployment of a sustainable, circular titanium supply chain for the global automotive market. Our low-carbon titanium metal is uniquely made with 100% recycled titanium and can significantly improve automotive supply chains by using high-strength titanium components with nearly half the weight of steel."

IperionX is an Australia-based company focused on the exploration and development of mineral resource properties, and the company's titanium technologies produce recyclable and environmentally-friendly titanium products.

IPEX stock is trading on extremely high volume with over 11.21 million shares traded on Tuesday, far exceeding its average trading volume of 6.03 thousand shares.
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IPX Price Action: According to BenzingaPro, IperionX shares are trading over 121% higher at $14.50 at the time of publication.

Image: Mohamed_hassan from Pixabay