This morning it is quite likely that Kronos Advanced Technologies Inc (OTCMKTS:KNOS) is going to come into focus among investors following the announcement that was made by the company yesterday.
On Wednesday, KNOS stock decreased 1% to $0.0099 with more than 200.90K shares, compared to its average volume of 121.68K shares. The stock moved within a range of $0.0084 – 0.0120 after opening trade at $0.0084.
The product development company which has helped in making a significant contribution towards how air is moved, filtered and purified, announced yesterday that it had formed a new business division named Kronos MD Inc.
It is going to be a medical manufacturing division and it is going to deploy the expert capabilities possessed by the company for the purpose of going into precision healthcare manufacturing. It goes without saying that the announcement was a significant one and could prove to be a cause for optimism among investors.
In addition to that, it was also noted that Kronos MD is also going to help the company in attempting to acquire technology and manufacturing processes in the precision medical component and medical devices industries.
In line with the company’s strategy for 2022, the new division is going to continue with the diversification and growth initiatives that have already been put in place. At this point in time, it is going to be interesting to see if the stock moves today or not.
“Transition to America” manufacturing plan focused initially on the domestic production of a highly successful line of advanced air purification/disinfection devices. “The Kronos team has the expertise that is applicable beyond the markets in which the Company currently operates,” said Joseph Florence, Kronos’ COO and Chief Transformation Officer.
KNOS stock is trading above the 20-Day and 50-Day Moving averages of $0.0106 and $0.0115 respectively. However, the stock is trading below the 200-Day moving average of $0.0157. The company has a total market capitalization of $6.52 million.