On Wednesday, Odyssey Semiconductor Technologies Inc (OTCMKTS:ODII) was in significant focus among investors and it could be gauged from the price action in its stock, which ended with gains of as much as 7%. In light of such a move it may be a good time for investors to consider taking a look at the announcement from the company which led to the gains.
Trading Data
On Wednesday, ODII stock moved up 6.89% to $1.78 with more than 58.87K shares, compared to its average Wednesday of 3K shares. The stock moved within a range of $1.7000 – 1.8000 after opening trading at $1.70.
Odyssey Semiconductor Announces Technology Development Milestones
The semiconductor device company came into focus yesterday after it announced that it had been successful in hitting a major technology milestone during the course of developing the first advanced vertical GaN power field-effect transistors in the world.
It was a major new announcement from the company as Odyssey tries to move in such a way that it can meet the demands of a rapidly evolving marketplace. At this point in time, the sustainability thrust is something that has led to a need for the development of new technologies with regards to power conversion.
The power conversion that is necessary for electric vehicles, date centres, wind and solar turbines and industrial motors among others. It is now going to be interesting to see if the Odyssey stock does come into focus among investors in the coming days or not.
Key Quote
“This 700 V milestone validates our industry-leading efficiency and remarkably low on-resistance. Odyssey is on-track to deliver 1200 V vertical GaN FETs in 2022 for a handful of customers who have already requested engineering samples. We are thrilled the U.S. Patent and Trademark Office has granted our U.S. patent. This strengthens Odyssey Semiconductor’s leadership position in vertical GaN devices and related technology,” said Rick Brown, co-founder, interim CEO, CTO, and Board member. “Our patent is one of many that will help protect Odyssey’s key aspects on our GaN devices.”
Technical Data
ODII stock is trading above 20-Day and 50-Day Moving averages of $1.73 and $1.66 respectively. However, the stock is trading below the 200-Day moving average of $2.16.
