POET Technologies Soars After Production Agreement with Globetronics

Investing.com -- Shares of POET Technologies Inc., listed on the Toronto Stock Exchange, experienced a significant rise on Friday, reaching an increase of up to 32%. This surge propelled the stock to its highest level since March 2022. The increase in share value followed the company’s announcement earlier this week of a production agreement with Globetronics Manufacturing in Malaysia. In the agreement, POET Technologies stated that it has tasked Globetronics with the assembly and testing of optical engines. These engines are based on designs specifically created by POET. The collaboration between POET Technologies and Globetronics Manufacturing signifies a new phase of manufacturing capacity for the company.