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Kronos Advanced Technologies’ Stock Continues to Surge, Up 800% Since May
One of the stocks that have made significant gains despite the turmoil unleashed on the market by the coronavirus pandemic is Kronos Advanced Technologies Inc. (OTCMKTS:KNOS). The stock has rallied strongly since the middle of May and has managed to deliver gains of as much as 800% since then.
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Considering the massive gains made by the Kronos Advanced stock, it could be worthwhile for investors to take a closer look at the recent events surrounding the company. The company is involved in the manufacturing of air disinfectant purifiers, and towards the end of June, it made a major announcement with regards to the latest models that it had manufactured.
Pre-Orders For Its KRONOS AIR 5G Model 5
On June 29, the company announced that it has started taking pre-orders for its KRONOS AIR 5G model 5, which is also marketed by Kronos Advanced as AIRDOG X5. The company also stated that the product captures as much as 14.6 nm levels, and that is as much as 20 times higher than HEPA. It is a product that could have significant competitive advantages. The KRONOS AIR 5G is not only cost-effective and only utilizes 30 watts worth of power.
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In addition to that, it has lasers sensors built into it and helps the KRONOS AIR 5G to detect any changes in the quality of air. Once detected, the speed levels of the fan gets adjusted automatically until the air quality improves. The fact that the Kronos has started taking pre-orders for the product sparked a lot of positivity around the stock among investors.
Acquired a Manufacturing Facility
However, that was not the only positive surrounding Kronos in recent weeks. Earlier on in June, the company had made another important announcement that possibly had an effect on the continued rally in the stock. On June 18, the company announced that it had inked a letter of intent to acquire a manufacturing facility with an area spanning 85000 square feet in West Virginia.
The facility in question has been acquired for the company’s consumer electronic products business. Kronos is moving the manufacturing operations of its air purifiers from overseas to the United States, and it seems to have earmarked this particular facility for his purposes. The letter of intent for the same was signed with a privately held company. The Chief Executive Officer of the company, Julius Toth, stated that a manufacturing facility of its own is a step in the right direction for Kronos. It will help the company in scaling up its manufacturing capabilities significantly as demand rises for its consumer electronics products. Additionally, it will also help the company in building new products as per the needs of the market. The company had made the announcement with regard to its latest air purifier model back in April.
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