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Cyngn Stock Surges 80% on Nvidia Collaboration and Direct Offering
Cyngn Stock Surges 80% on Nvidia Collaboration and Direct Offering
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BTCCSquare news:
Cyngn (CYN) shares extended their rally Friday, climbing 80% in pre-market trading after a 171% surge Thursday. The autonomous vehicle technology firm's partnership with Nvidia's Isaac platform for industrial vehicle automation continues to drive investor enthusiasm.
The company concurrently announced a $15 million registered direct offering at $5.01 per share, with Aegis Capital managing the placement. Despite the recent gains, Cyngn remains down 89% year-to-date, with trading volume exceeding 17 million shares during the rally.
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