IperionX Limited (IPX) surged 19.45 percent to $29.17 on Thursday after announcing it had secured a Phase III Small Business Innovation Research contract from the U.S. Department of Defense. The stock opened at $29.89 and traded between $28.85 and $30.30 on the Nasdaq. Volume rose to 132,724 shares, nearly doubling the average of 69,720. IperionX's 52-week range is between $12.27 and $38.93.
The contract, structured as an Indefinite Delivery, Indefinite Quantity agreement, enables U.S. government agencies to place project-specific orders totaling up to $99 million for IperionX's titanium components.
This Phase III SBIR designation allows for direct procurement without further competition and marks a significant step in the company's commercialization of its titanium technology for defense applications.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.