Shares of Peraso Inc. (PRSO) jumped over 44% on Tuesday morning. PRSO is currently trading at $1.8299, up $0.5599 or 44.4330%, on the Nasdaq. The stock opened its trading at $1.7400 after closing Monday at $1.2700. The stock has traded between $1.2300 and $52.8000 in the past 52-week period.
On Tuesday, Peraso announced that Panasonic System Networks R&D Lab. Co., Ltd. (PSNRD) has adopted Peraso's X710 chipset for its new 60GHz WLAN solution.
Incorporating Peraso's phased array antenna technology, PSNRD's newly introduced 60GHz WLAN solution achieves wireless high-speed, low-latency communication equivalent to wired LAN over distances of hundreds of meters.
"Panasonic is a global consumer and enterprise technology leader and we are very excited that PSNRD, a Panasonic group company, has selected Peraso's chipset for their latest 60 GHz WLAN solution," said Ron Glibbery, Peraso's CEO. "We believe that the X710 is perfectly suited to meet PSNRD's stringent demands and that their product, combined with Peraso's robust technology, is delivering a highly desirable wireless connectivity solution."
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