After the company provided a key update yesterday with regards to one of its business initiatives, the Bantec Inc (OTCMKTS:BANT) stock was in the middle of a rollicking rally yesterday and ended up with gains of as much as 43% as a consequence.
Trading Data
On Tuesday, BANT stock soared 43% at $0.0020 with more than 94.22 million shares, compared to its average volume of 44.61 million shares. The stock has moved within a range of $0.0015 – 0.0021 after opening trade at $0.0015.
Bantec, through Bantec Sanitizing, Sold Training, Equipment and Covid Sterilizing Products to an Ivy League University
The company announced yesterday that it had sold training, equipment as well as COVID-19 sterilising products to an Ivy League University through its subsidiary company Bantec Sanitizing. It was a significant announcement and considering the potential size of the client, it may have led to significant optimism among investors.
In this context, the Chief Executive Officer and Chairman of the company, Michael Bannon spoke as well. He stated that the product Pureti had been one of the products that had been used extensively by the university in question.
It had been used for coating the exterior of the windows at the university so that the glass surfaces could be sanitised and cleaned effectively. The announcement is an important one and it remains to be seen if other Ivy League universities go for the company’s products as well. It may be a good idea to keep the stock in your sights this morning and see if it can add to its gains today.
Technical Data
BANT stock is trading below the 20-Day and 50-Day Moving averages of $0.0020 and $0.0025 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0081. The stock is up 43% in the past week.
