AMSC surged almost 39% in mid-day New York trading to $5.83 as investors saw the agreement as appearing to validate chief executive Dan McGahn’s turnaround strategy for the company, which relies partly on boosting sales to fast-growing Inox, now its leading revenue source.
AMSC recently raised its revenue estimates for its third fiscal quarter to $22m to $24m, versus prior guidance of $19m to $22m, while reducing net loss to less than $4.5m,
