The tech sector has performed relatively well despite the troubles caused by the coronavirus pandemic over the past months and it could be wise for investors to take a look at some of the companies which have seen their stocks soar recently. One of the companies that could be worth tracking at this point is that of Enerkon Solar International Inc (OTCMKTS:ENKS).
Enerkon Solar International made a major announcement on Tuesday and soon enough the stock rallied strongly to register gains of as much as 28%. In such a situation, it could actually be beneficial for investors to consider having a closer look at the announcement that was made by Enerkon yesterday.
The company announced the establishment of a new technology holdings division that is going to house the new patents and the technologies acquired by Enerkon Solar. The announcement was made by the Chief Executive Officer of the company Benjamin Ballout, who said that he was pleased to have legally established the new division. This division has been christened as the Enerkon Technologies Holdings Inc.
He went on to state that Enerkon has acquired many patents and technologies that are going to be commercialized and monetized through the course of 2020 as well as in the first two quarters of next year. The technologies in question are spread across a range of sectors starting from healthcare and electric vehicles to artificial intelligence and security systems for law enforcement agencies.
The approval for all the different technologies is subject to regulatory approval.
Ballout stated that Enerkon is going to make an individual announcement with regards to regulatory approvals and commercialization status of each of the sectors. The announcements are expected to be made throughout the course of 2020 and hence, it is important for investors to keep an eye on the company’s activities. The Enerkon CEO went on to add that despite the coronavirus pandemic, the company is encouraged by its progress and is looking forward to the rest of 2020 with renewed vigour.
The establishment of the new division will help the management of Enerkon to streamline its operations more effectively and keep all its newly acquired patents as well as technologies in one place. It is an important move and it was not a surprise that the move from the company was welcomed wholeheartedly by the markets.
The stock may have rallied by as much as 28% but it remains to be seen if it can manage to extend its gains for the rest of the week. It is highly likely that the stock is going to be in focus among many investors this week and beyond. Investors could do well to keep an eye on the price action on the Enerkon stock.
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