Overview
- Invocon, a Cemtrex unit, was competitively selected Tuesday for a Phase I U.S. Navy Small Business Innovation Research contract under NAVSEA topic N254-P02 on modular mine warfare components.
- CETX shares jumped more than 100% at the open and later traded about 79% higher near $1.43 after the news, with Stocktwits showing extremely bullish chatter.
- The award comes two months after Cemtrex bought Invocon in January 2026.
- CEO Saagar Govil said the decision validates Invocon's technical depth and positions the firm to deepen ties with NAVSEA.
- The company did not disclose the contract's dollar value, and Phase I work tests feasibility before any Phase II prototype funding.