What Is Going On With Autonomous Vehicle Solutions Provider Stock Cyngn On Friday?

Benzinga·06/27/2025 14:16:02

Listen to the news

Cyngn (NASDAQ:CYN) announced on Friday that it has agreed to sell 2.29 million shares at $7.50 per share under a registered direct offering with a single institutional investor.

The company’s aggregate gross proceeds will likely be approximately $17.2 million.

The autonomous vehicle solutions company expects to use the net proceeds from the offering for general corporate purposes and working capital.

Also Read: Tesla Set For Rebound Thanks To Robotaxis And Strong Cash Flow: Analyst

The stock rose by over 70% in Friday’s trading.

Cyngn held $16.3 million in cash and equivalents as of March 31, 2025.

On Thursday, Cyngn announced its partnership with Nvidia Corp (NASDAQ:NVDA) to power next-gen autonomous vehicles for industrial applications. Following the update, Cyngn stock climbed over 290%.

The company was selected among a few robotics innovators using Nvidia Isaac technologies to accelerate safe, scalable autonomy across dynamic, real-world environments.

Cyngn’s stock plunged 99% over the past year as the company faced financial struggles and doubts about meeting Nasdaq’s minimum bid price. It fell short of revenue and EPS expectations for four consecutive quarters but regained compliance with the Nasdaq in March 2025.

Price Action: CYN stock is up 72.1% at $23.35 at last check Friday.

Read Next:

Alibaba’s AI Model Outperforms Radiologists In Early Gastric Cancer Detection

Photo: Shutterstock

FAQ

Fee Schedule Open Account Deposit & Withdrawal Trading

Terms & Conditions

Client Agreement Privacy Policy Data Disclaimer Security Tips

About Webull

About us Webull Promotions Contact information Announcements

Service Email : service@webull.hkBusiness Cooperation : marketinghk@webull.hk

Risk Disclosure: The content of this page is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial circumstances. All investments involve risk and the past performance of securities, or financial products does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing. For more details, please refer to risk disclosure.
① During the campaign period, US stocks, US stocks short selling, US stock options, Hong Kong stocks, and A-shares trading will maintain at $0 commission, and no subscription/redemption fees for mutual fund transactions. $0 fee offer has a time limit, until further notice. For more information, please visit: https://www.webull.hk/pricing
Webull Securities Limited is licensed with the Securities and Futures Commission of Hong Kong (CE No. BNG700) for carrying out Type 1 License for Dealing in Securities, Type 2 License for Dealing in Futures Contracts and Type 4 License for Advising on Securities.

Language

English