Cyngn Inc

CYN NASDAQ
CYN
Cyngn Inc NASDAQ
 
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Important events

Apr 222022

A product launch earns automatic gains

Green is the new black on Wall Street, and recently public Cyngn is making the most of the hype with a new autonomous driving product steering its stock to the top of the charts.

  • Software firm Cyngn just launched its DriveMod Kit, a turnkey system developed for use in industrial and commercial operations that’s perfect for retrofitting vehicles. The product was first developed for its partnership with Columbia Vehicle Group before Cyngn decided to offer it to the wider market.
  • Cyngn reckons this’ll help pave the way for autonomous vehicle adoption, claiming that industrial customers that buy DriveMod will enjoy “increased productivity, improved safety, and lowered operational costs”.
  • Shares sped ahead by 96% on Thursday to hit their highest price since late Jan on the news. However, even after the jump, shares are still down over 73% from their IPO opening price of $8.02, so investors are hoping they have a few more tricks up their sleeve.
Cyngn

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