It is almost certain that the Industrial Nanotech Inc (OTCMKTS:INTK) stock is going to be in considerable focus among investors this morning after it emerged as one of the major gainers on Monday and ended up with gains of as much as 47%.
Trading Data
On Monday, INTK stock surged 47.33% to $0.0221 with more than 42.20 million shares, compared to its average volume of 10.32 million shares. The stock moved within a range of $0.0175 – 0.0240 after opening trade at $0.0200.
Industrial Nanotech Inc Announces Expansion Into Railroad Tank Car Insulation
In this situation, it may be a good time for investors to consider taking a look at the key announcement from the company on Monday. The company announced yesterday that it had managed to ink an agreement with a railroad tank car owner by way of which Industrial Nanotech will provide the key service of thermal insulation to the tank cars which are operated by the client.
It was a major development and one that was welcomed wholeheartedly by investors. At this point in time, it is going to be interesting to see if the stock can add to its gains over the course of the coming days or not.
In addition to that, Industrial Nanotech is also going to be involved in the exclusive distributor for the railroad tank industry on a worldwide. Hence, the excitement among investors is understandable to some extent. It may be a good idea to add it to your watch lists.
Key Quote
“This is a market we are uniquely qualified to benefit,” states Stuart Burchill, CEO/CTO of Industrial Nanotech Inc. “Railroad tank cars are limited by the Department of Transportation with regard to weight, length, width, and height. By replacing the existing insulation with a thinner and lighter insulation, we increase the volume and weight available for product carried per tank car, with no increase in cost per mile of transport distance. For this industry, our product will pay for itself in weeks.”
Technical Data
INTK stock is trading above the 20-Day and 50-Day Moving averages of $0.0196 and $0.0169 respectively. Moreover, the stock is above 200-Day moving average of $0.0097.
