Australia's BluGlass hits more than 4-yr low after missing out on U.S. funding

Bluglass

20/09/2024 05:13

** BluGlass  BLG.AX  plunges as much as 22.4% to A$0.0225,
the lowest since May 26, 2020
    ** Semiconductor developer says microelectronics project, of
which co is a part, not selected for funding by the U.S.
Department of Defense (DoD)
    ** Funding part of DoD and White House's "Leap Ahead" awards
to improve performance of microelectronics like transistors and
switches
    ** Says co eligible to apply for next round of funding
    ** About 5.6 mln shares traded, 3x the 30-day avg
    ** Stock posts biggest intraday pct loss since Feb. 12
    ** BLG down ~62% YTD

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))