Why Is Cyngn Stock Surging 22% Pre-Market Today?
Synopsis
Through the 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.
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.
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