LightPath Technologies is trading 5.1% up at $11.38 in pre-market, recovering from a sharp decline triggered by the announced sale of its Chinese operations.
- The stock fell 12.45% on July 24 after the company revealed plans to sell its entire China subsidiary for $4.5 million over five years to focus on defense-related business.
- The strategic exit from the Chinese market is intended to streamline the company's portfolio and prioritize high-growth defense contracts.
- Broader risk-on sentiment in equity futures is providing additional support for the morning's price rebound.