SmartMetric Inc. (OTCMKTS:SMME) has emerged as an interesting company in the credit cards space and after a key announcement from the company yesterday with regards to its latest product, the stock jumped by as much as 7%.
Trading Data
On Monday, SMME stock surged 7.41% to $0.0116 with 493k share, compared to its average volume of 1.07 million shares. The stock has moved within a range of $0.0072 – 0.0150 after opening trade at $0.0072.
Latest News
As it happens, the latest rally in the stock stretched the rally in the stock that has been seen over the past week and took it to as much as 28% for the period. Yesterday, the company actually came into sharp focus among investors after it announced that it had created credit cards that are built with fingerprint readers. It goes without saying that it is a highly innovative measure and resulted in a lot of excitement among investors.
When an individual touches the sensor in the card, the fingerprint reader scans the fingerprint in less than one second. In this regard, it is also necessary to point out that the fingerprint of the user can be compared with the fingerprints which are already stored in the card. The rally in the stock over the course of the past few days has been quite strong and at this point, it remains to be seen if the stock can manage to add to its gains.
Key Quote
“When developing the SmartMetric biometric card, we were particularly aware that for its adoption by card issuing Banks and consumers, the card would need to work in all real-life situations in which the public uses cards today. The card had to work in all situations that a card user would want to use their card necessitating that the card had its own internal power source so as the biometric scanning could take place on the card before it was for instance inserted into an ATM,” said SmartMetric’s President and CEO Chaya Hendrick.
Technical Data
SMME stock is above the 20-Day and 50-Day Moving averages of $0.0098 and $0.0105 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0163. The stock is up 30% in the past week.
