New Bomb Scanning Tech Sends Stock Shooting Up
Daily Stock Market Summary:
Stocks are finally managing to gain some lasting traction after last week’s roller-coaster trading. Equities posted dramatic gains yesterday and are maintaining their upward momentum today, albeit with the NASDAQ lagging behind.
General Electric, a stock that has been hammered in recent months, was leading the way up during today’s trading. NVIDIA has been suffering a selloff after announcing the end of its self-driving car development efforts.
Overall, investors appear to be “buying the dip” as fear of a trade war ease and macro-fundamentals remain solid.Some analysts remain wary of an apparent slowdown in Q1 GDP growth.
The current market environment continues to be defined by inspiring rallies and sudden sell-offs. News-based, quantitative stock trading systems are built to thrive as volatility simmers. You can learn about the strategic foundations of news-based trading in one of our (totally, 100% free) training seminars. We’ll discuss how smaller investors are using News Quantified to cash in on reliable strategies that have been milked by big hedge funds for decades.
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This morning, Astrotech announced that their TRACER 1000 product, an Explosives Trace Detector (ETD), has been accepted into a TSA program for evaluating new air cargo security technologies. US laws passed in the wake of the 9/11 attacks mandate that 100% of cargo loaded onto passenger aircraft is scanned for explosives. This requirement poses a significant challenge for air operators as the volume of global air cargo traffic continues to skyrocket—and creates substantial opportunities for makers of more efficient scanning technologies.
Two recent bombs employed in Austin, Texas, were shipped via FedEx air, driving renewed interest in scanning tech innovations.
Based on mass spectrometry, the TRACER can detect a huge array of chemical compounds. With a potential market as large as every freight processing center in the US, these devices can command huge revenues if they successfully navigate the TSA’s regulatory approval process.
The TRACER is developed and sold through ASTC’s subsidiary 1st Detect. Astrotech maintains a broad portfolio of technology companies.
Investors have been buying up the stock since the announcement, driving it to gains around 34% at the time of this writing. Astrotech may have some room to run: it sits far below its 2015 highs, even after today’s gains.
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