Shares of LightPath Technologies, Inc. (NASDAQ:LPTH) are on the move higher in trading today as the Company adds glass manufacturing capabilities as part of their vertical integration strategy.
As40Se60 chalcogenide glass or BD6 is currently being produced in high volumes at the Company’s Orlando, FL facility and can be used in many infrared applications.
LightPath is already a leading vertically integrated global manufacturer, distributor and integrator of proprietary optical and infrared components and high-level assemblies, so the addition of glass manufacturing not only makes sense but adds a new revenue stream for the Company.
Investors seem to be applauding the announcement as shares of LPTH have been climbing all day since the news hit, and currently are trading up over 8% at $2.84 on strong volume. Including today’s move higher, shares are currently up 138% since their mid-December low and quickly closing in on early-2016 highs of $3.79.
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