CETX Stock More Than Doubles As Cemtrex Subsidiary Bags US Navy Contract

Cemtrex Inc. (CETX) shares more than doubled in Tuesday’s opening trade after the company announced that its subsidiary has been awarded a contract by the U.S. Navy.

Cemtrex stated that its subsidiary, Invocon, Inc., has been chosen under Phase 1 of the U.S. Navy’s Small Business Innovation Research (SBIR) to work on the Naval Sea Systems Command’s (NAVSEA) Modular Mine Warfare Components program.

Cemtrex shares gained more than 102% in Tuesday’s opening trade. Retail sentiment on Stocktwits around the company trended in the ‘extremely bullish’ territory at the time of writing, with message volumes at ‘extremely high’ levels.

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