Shares of Atomera (NASDAQ: ATOM) jumped as much as 23% after the company announced that a customer was making progress on a joint development agreement (JDA). As of 12:30 p.m. EST, the stock had given back much of those gains and was up just 5% as the broader market pulled back and tech stocks remain weak today.
Atomera, which specializes in developing and licensing technology for the semiconductor industry, said that a JDA customer had entered into the fourth phase of the engagement process. There are a total of six phases, and the end result is the commercialization of wafers that utilize Atomera's Mears Silicon Technology (MST), which bolsters performance and power efficiency of transistors.
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Source Fool.com