Why Are Dragonfly Energy Shares Rising Thursday?
Portfolio Pulse from Shivani Kumaresan
Dragonfly Energy Holdings Corp (NASDAQ:DFLI) shares are rising after the announcement that it will be awarded a new U.S. patent for the design of the assembly case of its GC3 12V 270Ah LiFePO4 deep cycle battery. The company believes this design provides more flexible solutions and increased energy density compared to traditional battery form factors. The patent will add to the company's portfolio of more than 55 issued patents and pending applications.
July 13, 2023 | 2:08 pm
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Dragonfly Energy's new patent for its battery design is expected to strengthen its market position and provide more flexible solutions. This has led to a rise in its share price.
The announcement of the new patent has led to a positive market reaction, with shares rising by 5.5%. The patent is expected to strengthen Dragonfly Energy's market position and provide more flexible solutions compared to traditional battery form factors, which could lead to increased demand for its products.
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