Shares of Velo3D Inc. (NASDAQ:VELO) are trading higher Thursday morning following the company’s announcement that it has officially joined the Government-Industry Data Exchange Program. Here’s what investors need to know.
- Velo3D stock is showing exceptional strength. Why are VELO shares rallying?
GIDEP Integration Strengthens Quality Control and Defense Manufacturing Position
GIDEP is a cooperative information-sharing system managed by the Defense Standardization Program Office that connects U.S. government agencies with defense industrial suppliers. Participation grants Velo3D direct access to a centralized database containing technical, reliability, parts-obsolescence, and nonconformance data across tens of millions of part records, enabling higher supply-chain risk mitigation.
CEO Arun Jeldi highlighted that GIDEP membership will directly complement Velo3D’s quality-control framework and defense manufacturing initiatives, which produce complex metal components for U.S. government applications using its Sapphire metal 3D-printing systems and Rapid Production Solutions.
VELO Stock Climbs Thursday Morning
VELO Price Action: Velo3D shares were up 11.01% at $11.09 at the time of publication on Thursday, according to Benzinga Pro data.
Image: Shutterstock
Login to comment