Australia's Archer Materials hits 8-month high on new product launch

Archer Materials

25/03/2024 24:51

** Shares of Archer Materials  AXE.AX  rise as much as 28.7%
to A$0.605, hitting their highest level since July 20, 2023
    ** Stock on track for best day since Feb. 23, if current
gains hold
    ** Semiconductor technology co says it has built a single
chip integrated pulsed electron spin resonance microsystem with
research partner École Polytechnique Fédérale de Lausanne (EPFL)
in Switzerland
    ** Says it is continuing to work with EPFL to build
significant capability in radiofrequency devices and circuit
design
    ** About 3.5 mln shares change hands, compared with the
30-day average volume of 606,858 shares
    ** Stock had risen 23.7% this year, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))