One of the stocks to have emerged as one of the notable gainers yesterday was that of Flexpoint Sensor Systems Inc (OTCMKTS:FLXT), which had ended up with gains of as much as 11% amidst heavy interest.
Trading Data
On Thursday, FLXT stock increased 10.60% to $0.0240 with more than 59.62K shares, compared to its average volume of 227.82K shares. The stock moved within a range of $0.0210 – 0.0240 after opening trade at $0.0210.
Flexpoint Announces Additional Advancement in Pill Pack for Opioid Tracking Solution
In such a situation, it may be a good move for investors to actually take a look at the announcement that was made by the company which led to such gains. The company announced yesterday that its efforts to complete the development of the Pill Pack have been ramped up significantly. The Pill Pack is a product that is meant for prescription tracking.
Not too long ago, the company had also announced that an integration of the pill pack with the latest wireless communication protocols would make the tracking method more user friendly and also more cost effective. In light of such announcements, it is perhaps not a surprise that investors showed their excitement about the possibility of the whole thing being completed soon.
The President of Flexpoint Sensor Clark Mower spoke about the situation as well. He noted that everyone at the company was excited at the ramped up efforts for completing the development of the Pill Pack.
Key Quote
Clark Mower, President of Flexpoint stated, “We have been excited to see increased efforts in the completion of the prescription tracking project. This is potentially lifesaving technology that provides a significant opportunity to slow the overdose epidemic that has taken hold in our country. Additional team members have been added to quickly finish the last few critical elements. Additional wireless protocols are being included that will fit a wider range of applications. Revenues could begin in early 2023 and long-term revenues could be valued in the millions of dollars annually.”
Technical Data
FLXT stock is trading below the 20-Day and 50-Day Moving averages of $0.0243 and $0.0266 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0434. The company has a total market capitalization of $3.02 million.
