Superconductor Technologies, Inc. (NASDAQ:SCON) share priced zoomed $0.06 from yesterday’s close all the way to $0.28 for a gain of a whopping 27.27%. The stock has nearly doubled since hitting a 52-week low of $0.15. Volume surged to over 3 million shares being traded on the stock today. Volume was over 11 times average volume. There is reasons to be excited about the stock and an explanation for its share price surging.
Earlier today, SCON announced that it hosted Congressman Michael McCaul, Chairman of the House Committee on Homeland Security. It hosted a special meeting today at the request of Austin’s Regional Manufacturers Association and took place at SCONs Advanced Manufacturing Center of Excellence.
SCON has been attempting to develop the next generation of high performance superconducting wire which is a significant advancement which will be extremely cost effective to the industry and develop a significant competitive advantage for SCON if it can surpass technical hurdles that is required and overcome the obstacles and challenges. Conductus has 100 times the current carrying capacity of conventional copper and aluminum, superconducting wire offers zero resistance with extreme high current density. It recently announced that its Conductus wire had met a performance milestone for a high field magnet application. This showed a 34% improvement from the previous tests conducted with Conductus wire.
The CEO and president of SCON stated “We appreciate Congressman McCaul’s support of advanced technology manufacturing. STI chose to locate our AMCE in Austin due to the availability of the world class engineering and material sciences expertise we needed to launch our Conductus® wire manufacturing operation. To date, we have successfully installed our new manufacturing equipment and expect to ramp production to meet the industry demand for superconducting wire.”
SCON is a pioneer in the development of superconducting materials and manufacturing processes. It has developed a huge IP portfolio with numerous patents and proprietary trade secrets. Over the last 10 years, SCON has manufactured and sold over 6,000 superconducting systems. SCON’s new focus and strategy over the last few years has been the development of cost effective, high performance superconducting wire that will be used for electric utilities and smart grid applications.
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SCON is currently trading at a $8.7 million market valuation. The company is on the verge of making a technical breakthrough with its next generation, high performance, superconducting wire Conductus. Once its completes manufacturing hurdles orders will start rolling in and revenues and profits should follow shortly after. This is an exciting micro-cap story that could change on the flip of a design. Stay tuned for more announcements and news.
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Disclosure: we hold no position in SCON either long or short and we have not been compensated for this article.