Coretec Group Inc (OTCMKTS:CRTG) Stock Consolidates After The Recent Fall
Shares of Coretec Group Inc (OTCMKTS:CRTG) have been trading in a range after the recent fall.
Market Stats
On Thursday, CRTG stock ended flat at $0.0475 with more than 81K shares, compared to its average volume of 242K shares. The stock moved within a range of $0.0440 – 0.0490 after opening trading at $0.0470.
The Coretec Group Opens Laboratory, Hires Research Scientist to Advance Silicon Developments
Developer of engineered silicon and 3D volumetric displays, The Coretec Group Inc (OTCMKTS:CRTG), on February 22, 2022 opened a new wet laboratory and also hired research scientist.
Located in same building as its corporate offices in Ann Arbor, Michigan, The Coretec Group is planning to harness lab for developing cyclohexasilane. This will create silicon quantum dots as well as silicon-anode active materials for lithium-ion batteries.
The company is engineering silicon for achieving advancements in variety of applications including solid-state lighting, nanotechnology, microelectronics and battery technology. It is interested specifically in improving performance of lithium-ion batteries.
The Coretec Group Inc opines that the next step in improving lithium-ion batteries is replacement of traditional graphite anodes. It is planning to utilise lab for conducting more research and development towards advancement and proprietary silicon anode.
Hiring of research scientist Nathanael Downes, who has Ph.D. in Inorganic Chemistry from the University of Michigan, makes him well-aligned with the company’s focus. Downes studied electrodeposition of silicon thin films and has dealt in silicon chemistry.
CEO Matthew Kappers said that opening up own lab is a significant step towards showing advantages of engineered silicon. Kappers added that Nathanael is perfect addition to the brilliant team of scientists as he brings relevant experience as well as amazing energy.
Key Quote
“Opening our own lab is a major step toward demonstrating the benefits of our engineered silicon by producing the materials ourselves,” said CEO Matthew Kappers. “Nathanael is a perfect addition to our brilliant team of scientists. He brings hard-to-find, relevant lab experience and a great energy to the team. We look forward to his developments in the lab.”
Traders Corner
CRTG stock is trading below the 20-Day and 50-Day Moving averages of $0.0506 and $0.0526 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0859.
