Liquidmetal Technologies Inc. (PINK: LQMT) engages in research, development and commercialization of amorphous metals. The company’s patented alloys and coatings are part of high performance material used in a variety of military, consumer and industrial products.
The company’s patented technology enables the creation of new opportunities for designing metallic-based products. The company has more than 20 patents.
After surging 30% higher on volume of 1.67 million yesterday, shares spiked nearly 8% to $0.72 in today’s early trading. The company has been in news ever since it announced the signing of an agreement with Apple Inc. (NASDAQ: AAPL).
Last month, Liquidmetal Technologies said in a SEC filing that Apple acquired exclusive rights to its patented technology for using it in consumer electronics products. Since then the company has been in the news. The deal is very big for Liquidmetal, considering the company’s size. Although the financial terms of the deal have not been disclosed, Apple may have paid the company $11 million to acquire the exclusive rights to its patented technology. The company used this to repay its debts.
The deal with Apple gives the company a lot of credibility. In fact, the deal has given a lot of exposure to the company’s technology, which may attract companies from other industries. This may good for the company’s top-line. The only area of concern is the lack of financial information on the company. Since the third quarter of 2010, Liquidmetal has not reported its financial results.
However, the deal with Apple still boosted the penny stock of Liquidmetal Technologies. The news on the deal first came out on August 9, 2010. Since then, the penny stock of Liquidmetal soared 114.04%. Between August 9 and August 12, the penny stock soared a spectacular 496.49%. Since then, the stock settled down, however, it picked up momentum again in today’s trading.
The penny stock has a 52-week range of $0.08-$1.76. It is currently trading above its 10-day, 20-day and 50-day moving averages, which indicates that the stock may rally again. The penny stock has as a support level at $0.47 and a resistance level at $0.68.
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