This past Friday Kronos Advanced Technologies Inc (OTCMKTS:KNOS) was in the news after it made an important announcement and that led to a strong rally in the stock as well.
The company announced the launch of a new loyalty and rewards initiative by way of which shareholders as well as customers can become loyalty members. In addition to that, they can also earn points when they shop on the internet. The news came as a positive trigger for the stock and it jumped by as much as 9% as investors flocked to it in a big way.
The loyalty program in question is going to go live next month. The most important aspect of the new initiative is that it will help members in using their reward points far more efficiently. The program seeks to combine all the points that are earned by any member and it goes without saying that such a service is expected to make life easier for most customers.
In addition to that, it is also expected to strengthen the relationships that customers have with brands and could also result in repeat purchases. After the rally in the stock last Friday, the stock is expected to come into focus today.