Industrial Nanotech Inc (OTCMKTS:INTK) Stock Rises After Corporate Strategy Update

Industrial Nanotech Inc (OTCMKTS:INTK) is the worldwide leader in nanoscience research and solutions industries at this point in time and yesterday, the company’s stock was on a roll. It ended up with gains of as much as 6% for the day. 

Trading Data

On Thursday, INTK stock increased 5.73% to $0.0083 with 13.36 million shares, compared to its average volume 8.09 million shares. The stock moved within a range of $0.0076 – 0.0097 after opening trade at $0.0081.

Industrial Nanotech, Inc Provides Corporate Strategy Update

The stock came into focus yesterday after the company provided an update with regards to its corporate strategy. It may be a good idea for investors to consider taking a closer look at the some of the highlights from the update. The Chief Executive Officer/Chief Technology Officer of the company Steve Burchill noted that Industrial Nanotech had started focusing on the Middle Eastern market back in June this year.

He went on to add that in the third quarter of the year the company had also established its office in Dubai. However, more important, Burchill also stated that the Middle Eastern initiative had managed to pay dividends sooner than expected.

It was a significant announcement and one that naturally came as a source of excitement for investors. Industrial Nanotech then pointed out the projects in which it had become involved in the market. One of those is an oil and gas project, while the other two are municipal and residential projects.

Key Quote

Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. said, “We initiated our focus on the Middle East in June of 2022 and opened our Dubai office in Q3 2022. It is paying the dividends we hoped for and faster than we expected.”

Technical Data

INTK stock is trading below the 20-Day and 50-Day Moving averages of $0.0094 and $0.0103 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0187.