Over the course of the past week the IIOT-OXYS Inc (OTCMKTS:ITOX) stock has emerged as one of the strongest performers in the market. The rally in the IIOT-OXYS stock continued on Wednesday as it soared by as much as 44% and took its gains for the past week to 70%.
The latest rally in the stock seems to have been triggered by an announcement from the company with regards to the bagging of a contract by its partner Aingura IIoT. As per the announcement, Aingura IIoT won the contract from the steel manufacturing behemoth ArcelorMittal.
ArcelorMittal is the biggest steel manufacturing company in South America, North America and also Europe. Hence, it goes without saying that winning the contract is a pretty big deal for Aingura IIoT.
Back in March last year, IIOT-OXYS and Aingura IIoT had signed an agreement with regards to collaboration by way of using their strengths to work across a range of industries spread across many countries. The fact that Aingura IIoT managed to win this contract is a major win for IIOT-OXYS and the reaction in the markets is hence understandable. It now remains to be seen if the IIOT-OXYS can continue to add to its gains over the coming days.
Market Reaction:
On Wednesday, ITOX stock soared 45% at $0.0207 with more than 19.33 million shares, compared to its average volume of 1.57 million shares. The stock has moved within a range of $0.0141 – 0.0239 after opening the trade at $0.0150. Over the past 52-week, the stock has been trading within a range of $0.0051 – 0.0450.
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