Coherent shares are trading higher after the company announced Denso Corporation and Mitsubishi Electric Corporation have agreed to invest an aggregate $1 billion in its silicon carbide business.
Portfolio Pulse from Benzinga Newsdesk
Coherent announced that Denso Corporation and Mitsubishi Electric Corporation will invest a total of $1 billion in its silicon carbide business. This has led to an increase in Coherent's share prices.
October 10, 2023 | 12:42 pm
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Coherent's shares are trading higher following the announcement of a $1 billion investment from Denso Corporation and Mitsubishi Electric Corporation in its silicon carbide business.
The $1 billion investment from Denso Corporation and Mitsubishi Electric Corporation in Coherent's silicon carbide business is a significant financial boost for the company. This news has already led to an increase in Coherent's share prices, indicating positive investor sentiment. In the short term, this is likely to continue to drive the stock price up.
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