Mobix Labs shares surge 31.82% intraday after being selected by a major ammunition manufacturer for a counter-drone smart munitions project.

Mobix Labs surged 31.82% in intraday trading, with the company announcing it was selected by a major ammunition manufacturer to support a counter-drone smart munitions project, providing advanced defense technology to detect, track, and intercept drones. The company specializes in designing, developing, and selling components and systems for advanced wireless and wired connectivity, RF, switches, and EMI filtering technologies for defense, aerospace, commercial, and industrial markets.