Sigma Labs, Inc. (OTCMKTS:SGLB) Recovers on News
Friday’s session marked the end of a red streak for Sigma Labs, Inc. (OTCMKTS:SGLB). The ticker reversed its movement in the morning and managed to close 13% in the green. The move was helped by a press release from Sigma that came in the morning hours.
SGLB announced they received a contract from the Los Alamos National Laboratory related to the disassembly of plutonium pits (or the cores of nuclear bombs) and their conversion into civilian reactor fuel. This undertaking is part of the ARIES program for a joint elimination of over 30 tons of weapon materials by both the U.S. and Russia.
The press release underlined the significance of the project in question and the fact that U.S. National Security found Sigma to be a reliable enough partner for it. The news immediately triggered volume spikes and the stock that was trading flat prior to the news release jumped immediately. By the end of the day SGLB shifted 11 million shares.
Even though the release stated that the company anticipates to generate just under $180 thousand in revenues from the contract, it appears the excitement was enough for traders to pick up SGLB and help the share price mostly make up what was lost over the previous two sessions.
Whether the news will be enough to generate upward momentum remains to be seen. SGLB slipped a little and retreated about half a cent shortly before the close, after spending most of the session closer to $0.15 per share.
Other stocks that moved heavy volume on Friday include 3D Eye Solutions, Inc (OTCMKTS:TDEY) who also closed 13% up on share volume swelling to 116 million. North American Oil & Gas Corp. (OTCBB:NAMG) ended their session 13% up at $1.21 per share.
