12:39 PM EDT, 06/25/2024 (MT Newswires) -- (Updates with the stock price movement in the headline and the first paragraph.)

Enovix ( ENVX ) shares surged 39% in recent trading on Tuesday after it was awarded a contract from an unnamed California-based technology company to provide silicon batteries and packs for mixed reality headsets.

Enovix ( ENVX ) said it will receive an immediate one-time payment for tooling to support battery pack dimensions as well as further payments for the delivery of both sample and production quantities. Financial details were not disclosed.

Price: 16.73, Change: +4.69, Percent Change: +38.95