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Here's Why Ambarella Stock Surged 10% Higher Today

·2 min read
Here's Why Ambarella Stock Surged 10% Higher Today
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Shares of Ambarella (NASDAQ: AMBA) climbed sharply higher Monday, surging as much as 10.8%, though the stock ended the trading day up 10.4%. The company announced that it has partnered with a notable Chinese automaker to build a driver monitoring system, which is already rolling off the assembly line. In a press release on Wednesday, Ambarella revealed a collaboration with Dongfeng Fengshen -- a mid to high-end brand within the Dongfeng Motor Group -- to create a cutting-edge system to detect driver distraction and fatigue.