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Microsoft Is Driving Wejo Stock Higher Today: Here's Why

Wejo Group Ltd (NASDAQ: WEJO) shares are trading higher Thursday after the company announced the expansion and extension of its relationship with Microsoft Maps.

Benzinga · 06/09/2022 09:29

Wejo Group Ltd (NASDAQ:WEJO) shares are trading higher Thursday after the company announced the expansion and extension of its relationship with Microsoft Maps.

The expanded collaboration is expected to significantly enhance the capabilities of Microsoft Corp's (NASDAQ:MSFT) mapping products in multiple areas across the globe. Microsoft will be able to receive real-time data from Wejo, which will help to improve intelligent routing, route optimization, parking space identification and more.

"Our expanded relationship with Microsoft is a rock solid example of effectively working together across OEMs and providers to deliver data sets that improve the experience of drivers globally," said Richard Barlow, founder and CEO of Wejo.

Wejo provides cloud and software analytics for connected, electric and autonomous vehicles.

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WEJO Price Action: Wejo has a 52-week high of $13.80 and a 52-week low of $1.76.

The stock was up 11.6% at $2.50 at press time, according to data from Benzinga Pro.

Photo: fancycrave1 from Pixabay.