Mobix Labs (MOBX) shares have experienced a more than 6x rally this week after announcing a purchase order with the U.S. Navy for components used in the Tomahawk cruise missile program. As MOBX pushed aggressively to the upside yesterday, its 14-day relative strength index (RSI) climbed into the early 90s, indicating extremely overbought conditions that often trigger a sharp correction.
Following yesterday's gains and despite a pullback this morning, MOBX stock is trading at roughly $0.90 today, miles above its $0.16 in late February.
