Mobix Labs shares rise 40.83% intraday after being selected by major ammunition manufacturer for anti-drone smart munitions project.

Mobix Labs surged 40.83% intraday, as the company was selected by a major ammunition manufacturer to support an anti-drone smart munitions project, providing advanced defensive technology to detect, track, and intercept drones. The company specializes in designing and selling components and systems for advanced wireless and wired connectivity, RF, switches, and EMI filtering technologies for defense, aerospace, commercial, and industrial markets.