Why Did Nova-Graphene Ballistics Inc (OTCMKTS:BIEI) Stock Fall 145 On Tuesday?

On Tuesday, it was a tough day in the markets for investors in Nova-Graphene Ballistics Inc (OTCMKTS:BIEI) as the stock suffered from a selloff and tumbled by as much as 14% amidst a selloff. In this situation, it could be a good move for investors to consider taking a look at the announcement from the company yesterday which may have triggered the selloff.

Trading Data

On Tuesday, BIEI stock decreased 14.29% to $0.0036 with more than 158.43 million shares, compared to volume of 11.56 million shares. The stock moved within a range of $0.0035 – 0.0057 after opening trade at $0.0048.

Premier Biomedical Inc. (OTC PINK: BIEI), now known as Nova-Graphene Ballistics, Inc., Announces Agreements to Manufacture its Revolutionary 3D-Printed Ballistic Armor Using its Proprietary Graphene Production Methodology

The company announced that it was reconstituting and restructuring its business so as to turn into a seller and marketer of graphene products. To that end, Nova-Graphene put into place a low-cost methodology for producing graphene, which is regarded as the hardest substance in the world as well as the best conductor material.

In this regard, it should be noted that this pivot from Nova-Graphene could in fact prove to be a significant long term move. Some of the leading experts have suggested that with the growth of the electric vehicles industry graphene could have a very prominent position in that industry due to its inherent qualities. In addition to its potential use for manufacturing electric vehicle car batteries, it could also be used for making semiconductors for military items.

Key Quote

Director Paul Beasant (also CEO of affiliated Nova Graphene Canada), is excited to be working with the NG Ballistics team: “We look forward to this opportunity, partnering with NG Ballistics [NovaGraphene Ballistics, Inc.]. With this relationship, I look forward to bringing this next-gen technology to the market. This will enable us to fast-track our commercialization of 3D-printed ballistic plates, to help safeguard our military personnel.”