OPTEC International Stock Jumps on Patent-Pending Approval
Optec International Inc (OTCMKTS:OPTI) has been in the news over the course of the past weeks for all the right reasons, and on Monday, the company made another announcement that proved to be a positive trigger for the stock. OPTEC announced that patent that it had filed with regards to integrating UV-C lighting technology in tablets and cell phones had been granted a Pending Patent status by the United States Patent Office.
The Chief Executive Officer of the company had actually filed an ‘Inventor Patent,’ and it was titled “UVC-LED Light Technology for use in Cellphones & Tablets.” It goes without saying that the latest development is a positive for the company and the rally in the stock price is not really a surprise.
After the news broke on Monday, investors soon piled on to the stock, and the OPTEC stock rose by as much as 11%. It was a significant gain, and it remains to be seen if the stock can add to its gains through the week. It is likely that the OPTEC stock is going to be on the radars of investors this week.
The company’s CEO said in a statement that the Patent Pending status is a major milestone for the company as it could lead to further progress in using UV-C technology in phones or tablets for disinfection and germicidal sterilization. The development is important since Patent Pending status generally leads to provisional approval within a year. If that happens, it will be a major win for OPTEC.
While that is an important development surrounding OPTEC, it should also be noted that there have been other key developments at the company in recent times. Back in June, OPTEC had announced that former Senior Product Manager at e-commerce giant Amazon, David Odeja, has been appointed to the advisory board of the company.
It is an important appointment and one that could provide OPTEC with much-needed expertise. Odeja had been the senior product manager for Prime Now Global Solutions and a Supply Chain Regional Manager for different divisions at Amazon. Investors could consider keeping an eye out for the changes that Odeja brings to OPTEC’s operations in the coming months.
Now coming to the company’s stock, it seems pretty clear that there are plenty of investors who are quite bullish on its prospects. The OPTEC stock had been a micro-cap at the start of June, but the strong move in the month eventually made it a penny cap. The stock enjoyed high trading volumes from among small-cap stocks, and in addition to that, it continues to attract higher bids from interested investors. As positive news keeps flowing, OPTEC could be one of the stocks to watch out for.
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