Here’s why the Veem (ASX:VEE) share price is surging 5% today

The Veem Ltd (ASX: VEE) share price is climbing in early-afternoon trade after the company provided a gyro sales update.

At the time of writing, the marine technology company’s shares are up 5.8% to $1.08. This puts its shares within a whisker of its all-time high of $1.15 reached earlier this month.

Sales update

The Veem share price is racing higher as investors appear pleased with the company’s presence in the Italian superyacht construction market.

According to its release, Veem advised that it has received orders for its gyro stabilisers from two Italian clients, Rossinavi and Overmarine. This marks the first time the company has added…