Irvine Sensors’ Stock Soars; Officials Puzzled

Irvine Sensors Corp. stock became the object of a trading frenzy Friday, surging 63%. Nearly 14 million shares changed hands, making Irvine Sensors the seventh most heavily traded issue in U.S. markets. Executives of the Costa Mesa electronics company said they were astonished by the stock activity, adding that they had not made any significant corporate announcements recently. Industry watchers said investors on the Internet were rehashing old deals, particularly a $2.1-million contract that Irvine Sensors signed with Boeing Co. in March to develop a “computer-in-a-cube” using Irvine’s chip-stacking technology. The stock closed at $3.16 a share, up $1.22, after moving as high as $4.38 earlier in the day.