One of the stocks that emerged as a major gainer on Thursday was that of NEO Battery Materials Ltd (OTCMKTS:NBMFF), which clocked gains of as much as 50%. The rally in the stock has possibly been triggered by an announcement made by NEO this Wednesday about the initiation of a pilot plant project.
In this project that company is looking to deploy its own resources towards the designing and testing of equipment, which will be using the single-step silicon (Si) nanocoating process from NEO. It is a major development for the company and it has led to considerable excitement among investors with regards to the NEO stock.
The batter metals company revealed that its Director and its Chief Scientific Advisor Dr JH Park and Scientific Advisory Board member Suk Joong Hwang have already started the work in relation to the designing of the project.
Spencer Huh, the Chief Executive Officer of the company, stated that the company’s team of scientists have already started work with regards to the testing and validation of the equipment that will be deployed in this particular project. The company also noted that the project has been launched after requests from many lithium ion battery users.
Market Reaction:
On Thursday, NBMFF stock surged 49% to $0.50 with more than 989K shares, compared to its average volume of 94k shares. The stock has moved within a range of $0.3600 – 0.5400 after opening the trade at $0.3733. Over the past 52-week, the stock has been trading within a range of $0.0010 – 0.9900.
 Stock Doubles in a Week: How Far Can it Go?){kind=link}