Wejo soars on Microsoft tie-up for building vehicle data platform
05/01/2022 09:55
** U.K.-based connected vehicle data analytics firm's
WEJO.O shares jump 39.5% to $8.79 premarket
** Co says it is developing a data processing platform in
partnership with Microsoft Corp MSFT.O called Wejo Neural
Edge, which uses machine learning for efficient handling of
vehicle data at scale urn:newsml:reuters.com:*:nBw6CDpgVa
** Says Neural Edge will reduce data overload and costs for
automakers and improve manufacturing of vehicles
** Stock jumped over 40% in aftermarket trading on Tuesday
** Up to last close, stock had fallen ~68% since it
completed a SPAC merger on Nov. 18 and hit a record high of
$19.9
(Reporting by Akash Sriram in Bengaluru)
((Akash.Sriram@thomsonreuters.com;))