Shares of Optical Cable Corporation (OCC) gained over 27% on Tuesday morning after the company announced that it has entered into a strategic collaboration agreement with Lightera LLC to expand product offerings and solutions, especially for the data center and enterprise sectors.
OCC is currently trading at $4.6095, up $0.9895 or 27.3343%, on heavy volume of 60 thousand shares, above average volume of 5.7 million, on the Nasdaq. The stock opened its trading at $4.5300 after closing Monday at $3.6200. The stock has traded between $2.0200 and $7.0000 in the past 52-week period.
In connection with this strategic collaboration, Lightera has made an investment in OCC, purchasing shares of OCC common stock from the company and Lightera holding 7.24% of the company's outstanding shares.
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