Shares of Atomera (NASDAQ: ATOM) skyrocketed as much as 29.6% on Wednesday, driven by the semiconductor materials developer's second-quarter earnings report. The stock backed down to a 25% gain as of 3:20 p.m. EDT.
Atomera didn't blind investors with a dazzling financial performance. Your average analyst had expected a net loss of approximately $0.15 per share on top-line sales near $100,000. The company reported a loss of $0.17 per share, recording no sales at all in the second quarter.
The rocket fuel for this soaring jump came from the earnings call , where CEO Scott Bibaud explained how Atomera's computer modeling tools allowed a key customer to improve the performance of an upcoming product. The computerized development and testing allowed Atomera and the unnamed client to develop significant improvements in six weeks, and the same process would normally take three test runs of physical silicon, each one spanning as much as nine months.
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Why Atomera Stock Jumped 30% Today