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Optec International Stock Rockets 65%: Is it a Good Penny Stock To Buy Now?

Over the course of the past week, the OPTEC International stock has proven to be one of the major gainers in the markets, and on Monday, the stock continued in the same way. On Monday, Optec International Inc (OTCMKTS:OPTI) stock gained as much as 65% as investors continued to pile on to the stock to fuel the upsurge.

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Recent Developments

The OPTEC stock has been rising steadily in recent times due to a lot of accumulation from among investors and it has also emerged as one of the biggest shares in the market in terms of traded volume. Last week, the OPTEC stock enjoyed a strong rally after Kevin Harrington, who became a household name through the television show Shark Tank, joined the company’s board of directors.

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However, that is not all. There have been other developments around the company that has managed to bring the OPTEC stock into sharp focus in the markets. The company recently announced the launch of its Safe-Scan infrared temperature scanning technology which complies with the standards laid down by CDC and is going to help in the reopening of schools, offices, care facilities, gyms and businesses among others.

The product has been created with high-class engineering and its scans are FCC certified. Safe-Scan can scan for high temperature as well as mask compliance in less than one second and hence, could be ideal for the establishments mentioned above.

Earlier on in July, the company got another boost after it emerged that it had been granted a ‘patent-pending’ status by the United States Patent Officer for the use of its UV-C lighting technology in tablets and cell phones.

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The Chief Executive Officer of the company has been the one who had filed for the inventor patent on behalf of OPTEC. In a press release, he later stated that the technology could be added to tablets and phones like it is the case with the ‘flashlight’ app. However, in the case of UV-C lighting technology, the app will be focussed on enabling germicidal sterilization and disinfection.

He went on to add that the ‘patent pending’ status is a major development for the company and gives OPTEC a significant boost in its quest to make UV-C lighting technology more popular. A ‘patent pending’ status usually turns into a fully-fledged patent within a year and hence, it is no wonder that there is excitement around the development.

In the early days of July, the stock had rallied strongly after it emerged as a potential coronavirus play after it launched the UV light sterilization device. It is a promising development considering the fact that many coronavirus related stocks have managed to deliver significant gains in recent times.

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