Shares of Evolv Technologies Holdings (NASDAQ: EVLV) surged on Friday and gained 31.9% at their highest point in trading during the day through 1 p.m. ET, according to data provided by S&P Global Market Intelligence. Evolv, which builds weapons-detection security systems powered by artificial intelligence (AI), reported big numbers for its second quarter after market close on Thursday and attracted multiple analyst upgrades soon after. Annual recurring revenue (ARR) as of the end of the second quarter was up 160% year over year to $54 million.
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