OPTEC International Gains Momentum After The Recent Developments
The market has rebounded steadily over the course of June as the coronavirus pandemic started to subside somewhat, and the economy started opening up. Many stocks have started rebounding as well, and it will be remiss for investors not to keep an eye on the stocks which are making notable gains.
One such stock is that of Optec International Inc (OTCMKTS:OPTI), which has gained as much as 100% over the course of the past two weeks and is likely going to be in the radars of plenty of investors over the coming days.
Projects Q1 Revenues in Excess of $4M
The rally in the OPTEC stock could be traced back to an announcement made by the company back on June 3. The company announced his projections with regard to its revenues for the period that is going to end on September 30 this year. The figures were only pertaining to its territories in California.
OPTEC projected that its revenues for the period in California are going to be $4 million. The bullish projection is based on the fact that the company recently launched the Far UVC LED Disinfecting lighting products in the state. The product has already garnered considerable interest in the state in both the commercial and medical sectors.
The product can be deployed for personal use in PPE products across sectors. OPTEC made the calculations on the basis of the sort of interest that has already been registered in the product since it was launched in May this year. At this point in time, the company has the capacity to produce 5000 units of the “i Wand” personal disinfection and sterilization scanner.
However, it does have the wherewithal to ramp up production if demand rises. In addition to that, OPTEC is also looking to launch the LED-UVC line of products at some point in June after a lot of interest was registered in the product medical and commercial sectors. Inquiries had also been made about the product from those looking for distribution opportunities.
Signs Exclusive UVC-LED Disinfecting Light Distribution Agreement
However, that is not all. Back in May, there was another major announcement from OPTEC that could also have positive long term effects on the company. The company announced towards the end of May that it has managed to acquire the exclusive distribution agreement for the Far UVC LED Disinfecting lighting products in the state of California.
Additionally, there are provisions in the agreement by way of which the exclusive distributorship can be extended to other regions and states depending on the scale of demand. These development points to the fact that OPTEC is steadily building its business. In addition to that, the projection is a fair indication of its near term prospects. Investors could do well to keep an eye on this stock over the coming weeks.
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