If you are currently on the lookout for stocks that may have clocked significant gains last Friday then it could be a good move to consider taking a look at the Industrial Nanotech Inc (OTCMKTS:INTK) stock. It was in major focus among investors and had ended up with gains of as much as 40%. While the gains may have been handsome, it is necessary to remember that there was no news about the company which could have led to such significant gains.
As it happens, the last time the company was in the news was back on August 10 and it could be a good move to perhaps take a look into it.
Trading Data
On Friday, INTK stock gained 40.22% to $0.0126 with 25.08 million shares, compared to volume of 7.55 million shares. The stock moved within a range of $0.0092 – 0.0133 after opening trade at $0.0092.
Industrial Nanotech, Inc Subsidiary Syneffex Inc Signs Agreement with Lowe’s
The worldwide nanoscience products and research company had announced at the time that it had been successful in penning a distribution agreement with the firm Lowe’s Inc. The agreement had been signed through its fully owned subsidiary unit Syneffex Inc.
The Vice President of Sales at Syneffex noted that it was a significant development for the company to have a behemoth like Lowe’s as a distribution point for its products. While the agreement was a significant one, it is still unclear if the latest rally was related to it.
Technical Data
INTK stock is trading above the 20-Day and 50-Day Moving averages of $0.0107 and $0.0105 respectively. However, the stock is trading below the 200-Day moving average of $0.0187.
