Why Should Kraig Biocraft Laboratories Inc. (OTC:KBLB) Stock Be On Your Radar This Week?
This morning, Kraig Biocraft Laboratories Inc. (OTC:KBLB) could be one of the companies that may come into focus in light of the announcement yesterday.
Kraig Biocraft Laboratories Launches Spider Silk Production at Recently Completed Higher Capacity Facility
The company announced that the inaugural production cycle of its BAM-1 parental strains had been initiated at its new production center.
The new production center also boasts an expanse eight times bigger than the previous facility and could enable the production of 25 metric tons of spider silk a year when running at full capacity.
In the news release, Kraig Biocraft Laboratories noted that the move to a bigger facility marked a crucial moment in the company’s growth and in its aims of bringing about significant changes to the textile industry.
The newly established production center is also located well from a strategic standpoint and offers ease of access to supporting infrastructure. It would also provide Kraig Biocraft Laboratories with a massive step forward in boosting its capacity and meeting the global demand for its path-breaking spider silk products.
The company noted that the production center would also help it in strengthening its position as a leader in the field of bio-engineered fibers. It may be a good idea for investors to add the stock to their watch lists.
Key Quote
“We are thrilled to embark on this new chapter in Kraig Labs’ journey,” said company founder and CEO Kim Thompson. “Launching this first production cycle at this greatly expanded facility is not only a testament to our team’s dedication and hard work but also a major milestone in our mission to revolutionize material science and commercialize spider silk. Our new center will significantly enhance our production capacity, allowing us to scale up and bring our innovative spider silk technologies to a broader market.”
Traders Notes
Technicals
| +/- EMA(20) | 0.0921 (-2.93%) |
| +/- SMA(50) | 0.101 (-11.49%) |
| +/- SMA(200) | 0.091 (-1.76%) |
| 5-Day Perf. | +4.2% |
| 1-Month Perf. | -7.84% |
| 3-Month Perf. | -40.79% |
| 6-Month Perf. | -4.28% |
| YTD Perf. | +131.01% |
| 1-Year Perf. | +171.73% |
| RSI(14) | 43.59 |
| ATR(14) | 0.01 |
| ADX(14) | 12.51 |
| Beta (5Y) | 0.40 |