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Update: Syntec Optics Shares Jump After Space Force Order

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(Updates with recent stock movement in the headline and the first paragraph.)

Syntec Optics (OPTX) shares jumped more than 20% in Monday trading after the company said it obtained an order to support US Space Force infrastructure and reconnaissance operations by building optics for government satellite constellations designed to protect the country.

Financial details of the order weren't provided.

The company is starting to establish a financial projection for space product lines in more than $100 million in backlog as the Space Force continues to expand the network of low-flying satellites through the rest of 2020s, Chief Financial Officer Dean Rudy said in a statement.

Price: $8.18, Change: $+1.39, Percent Change: +20.44%

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