During the course of the past week, the nanotechnology innovation firm Industrial Nanotech Inc (OTCMKTS:INTK) has come into sharp focus among investors and the trend continued on Thursday. Yesterday, the stock soared by 24% amidst considerable interests and took its gains for the past week to 45%. So what is driving this rally?
Actually there has been no news about the company over the past week that could have driven this rally. However, it could still be worthwhile to take a look at the announcement from the company last month, with regards to the launch of its subsidiary company TalkingPoint Inc, which could have been a factor.
The new subsidiary was launched by the company back on June 16 with the view of selling the line of self reporting coatings that has been created by Nanotech. In this regard, it is also necessary to note that the patent for the product is still pending. The Chief Executive Officer of Industrial Nanotech, Steve Burchill stated that TalkingPoint is going to be focussed on the safety of customers. He went on to state that the product is also going to indicate any danger prior to the conditions becoming deadly in any way.
Market Reaction:
On Thursday, INTK stock surged 24% at $0.0073 with more than 22.88 million shares, compared to its average volume of 5.61 million shares. The stock had moved within a range of $0.0057 – 0.0077 after opening the trade at $0.0060. Over the past 52-week, the stock has been trading within a range of $0.0008 – 0.0151.
 Stock Extends Rally: Up 45% This Week){kind=link}