Why Is Cyngn Stock Surging 22% Pre-Market Today?

Cyngn Inc. (CYN) announced on Tuesday that it has launched a new commercial deployment of its autonomous DriveMod Tugger system in partnership with G&J Pepsi, the largest independent Pepsi bottler in the U.S. 

Through this collaboration, Cyngn aims to improve material handling efficiency at G&J Pepsi’s facilities in Ohio and Kentucky, using autonomous vehicles to address labor shortages and boost operational productivity. 

Following the announcement, Cyngn stock traded over 22% higher and was among the top five trending equity tickers on Stocktwits. Retail sentiment around the stock jumped to ‘extremely bullish’ from ‘neutral’ territory the previous day. Message volumes rose to ‘extremely high’ from ‘normal’ levels in 24 hours.  

The rollout signals Cyngn’s move into the consumer-packaged goods sector, expanding the reach of its automation technology beyond its traditional industrial focus.

Cyngn provides self-driving vehicle solutions for industrial companies. Its DriveMod system allows businesses to adopt autonomous technology without major upfront investments or new infrastructure. It is currently used on Motrec MT-160 Tuggers and BYD Forklifts. The Tugger can carry up to 12,000 pounds and operates both indoors and outdoors.

“We just completed a 77K sq foot warehouse expansion and by integrating DriveMod into our material handling processes, we’re not only addressing today’s labor challenges but also positioning our business to meet the growing demands of tomorrow,” said VP, Manufacturing & Quality at G&J Pepsi, Jeff Erwin.

Founded in 1925, G&J Pepsi oversees a wide-ranging portfolio of more than 650 products with over 1,900 employees.

Cyngn stock has shed over 95% year-to-date and over 99% in the last 12 months. 

Also See: BioCryst To Acquire Astria Therapeutics In $700M Deal

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