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California based Optec International Inc (OTCMKTS:OPTI) has come into sharp focus this week owing to a significant development with regards to its Personal Protection Equipment (PPE) products. Following the announcement, the stock rallied strongly on Thursday and gained as much as 130%. It remains to be seen if the OPTEC stock can end the week strongly and further add to its gains on Friday.
Major PPE Contract
The company announced on Thursday that it bagged a definitive supply agreement with a significant International Commodities Consortium for its PPE kits. OPTEC is going to supply Brand Specific Personal Protection Equipment (PPE) to the client and the total value of the contract is in excess of $2 billion.
It goes without saying that it is a significant contract for OPTEC and the market recognized that as well. Soon enough, investors piled on to the stock and it went on a remarkably strong rally.
The Chief Executive Officer of OPTEC Roger Pawson spoke about the deal in a statement as well. He stated that OPTEC was working on the deal for a considerable period of time and happy to have concluded it.
He went on to state that the company will have to create a ‘massive logistics operation’ in order to distribute the aforementioned products. Pawson also said that the company has signed an agreement with a well known ‘Freight and Logistics organization’ for this particular purpose.
An ESG Play
There are a group of stocks that are regarded as ESG (environmental, social, and governance) plays and it seems that OPTEC stock has generated ample interest among investors who are engaged in that space.
If anyone is interested in investing in the ESG space, then there are few things that need to be kept in mind with regards to OPTEC. OPTEC is working on technologies that can usher in a greener future and that is one of the biggest reasons why it is being called an ESG play.
The company has managed to create a product named the Fuel Maximizer and wishes to distribute that product widely. Another product that OPTEC is trying to distribute widely is its lighting solution product named OPTIMUM LED.
OPTEC has stated that both the Maximizr and OPTIMUM LED have been designed to have a meaningful impact on ‘global health’. At this point, the company commands a market cap of only $657921, and hence, there could be a significant upside in the future.
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