Proprietary electric storage device manufacturer Triad Pro Innovators Inc (OTCMKTS:TPII) has had a tough time in the market over the past week and during that period, the stock has declined by as much as 5%.
Market Reaction
On Wednesday, TPII stock went up 1.69% at $0.0300 with more than 76K million shares, compared to its average volume of 1.13 million shares. The stock has moved within a range of $0.0264 – 0.0345 after opening the trade at $0.0345.
Providing Shareholder Update
The company develops its devices by deploying its patent pending technology named TriadPro Cell and yesterday it provided an update with regards to the main applications to which the technology could be deployed. While that was an important announcement in itself, the company also noted that its management had conducted research on some of the important sections of the Infrastructure Bill that was passed not too long ago.
Triad Pro also announced yesterday that it will be seeking opportunities with regards to funding by way of loans as well as grants from the Loan Programs Officer of the Department of Energy, as per the provisions of the Infrastructure Bill.
At this point in time, the Triad Pro management has decided to move ahead with the process of securing fresh funding but at the same time it was also noted that the funds will be raised so that the company’s stock is diluted to the bare minimum.
Traders Review
TPII stock is trading below the 20-Day and 50-Day Moving averages of $0.0306 and $0.0335 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0632. The stock is down 19% over the past month.
