Everspin Heads Into Weekend After Insider Selloff and Tech Losses

On Monday, Everspin Technologies drew investor interest, with shares quoted at $26.99, up 25.48%. The memory-chip company, based in Chandler, Arizona, landed in the spotlight after reporting a slimmer first-quarter loss and landing a U.S. defense subcontract worth $40 million. That quote put Everspin’s market value around $624 million.

Everspin Technologies shot higher in the latest U.S. session. The Chandler, Arizona memory-chip company notched stronger first-quarter product sales and announced a $40 million MRAM deal tied to defense—a contract that could boost revenue over the coming 30 months. Shares changed hands at $21.49, a gain of $3.19 from the previous close, with volume reaching roughly 4.7 million shares. Market cap sat near $497 million.