Everspin Technologies Stock Surges After $40 Million Defense MRAM Deal Puts Growth Back in View

• Everspin Technologies has landed a $40 million deal to deliver its Toggle MRAM process technology and related engineering work for U.S. defense industry clients.• The stock, listed on the Nasdaq, was recently at $18.17, up roughly 38%, after hitting an intraday peak of $19.63.• The new contract comes on the heels of first-quarter revenue of $14.9 million, up from $13.1 million a year ago. The company’s outlook for the second quarter does not factor in any contribution from this subcontract.