Why Aehr Test Systems Stock Was Up 14% Today
Shares of Aehr Test Systems (NASDAQ: AEHR) were shaking off market woes today and up 14.2% as of 12:30 p.m. ET. Notable was the fact that the Nasdaq Composite Index was tanking 3.9% on a bigger-than-expected jump in inflation this morning. Nevertheless, the chip fab equipment maker was shaking off that bad news for the market after Aehr said it just bagged an order with a new customer.
Specifically, tiny Aehr Test Systems said the purchase order was from a new customer, "to be used for qualification of Aehr's wafer-level burn-in solution for silicon carbide devices for electric vehicles and other markets."
Notably, Aehr mentioned that this is a major supplier to the electric vehicle (EV) industry. Though financial terms weren't disclosed, investors are taking this to mean Aehr's rapid rise will continue.
Source Fool.com
