Velocity shares rise 10.72% intraday after securing $32.6M DoD contract and collaboration with Army DEVCOM for additive manufacturing parts.

Velocity surged 10.72% intraday, driven by a $32.6 million contract with the U.S. Department of Defense to resolve ammunition bottlenecks and a collaboration agreement with the U.S. Army DEVCOM Ground Vehicle Systems Center to develop additive manufacturing parts for ground combat vehicles.