Mobix Labs Inc (NASDAQ:MOBX) shares are down on Friday, following a massive 144% surge from Wednesday’s close of $1.74 to Thursday’s peak of $4.25.
Retail traders appear to be taking profits after the stock’s rapid vertical move.
The Nasdaq is down 1.19%, while the S&P 500 is down 0.92%.
Strategic Acquisition Drives Momentum
The initial rally began after the company announced a plan to acquire Special Project Delivery LLC (SPD).
SPD focuses on U.S. supply chains for rare earth elements and critical minerals. These materials are essential for F-35 jets and Virginia-class submarines.
Mobix chair James Peterson noted that the defense industry is increasingly dependent on strategic materials, making SPD “the right platform at exactly the right moment.”
Financing and Investor Rights
On Wednesday, Mobix Labs also strengthened its balance …
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