Why Is Advent Technologies (ADN) Stock Up Today?

Advertisement

Today, renewable energy company Advent Technologies (NASDAQ:ADN) is soaring after announcing a new deal with Hyundai Motor Company (OTCMKTS:HYMTF). Right now, ADN stock is up more than 75% on the promising news item.

An image of a hand holding a light bulb wrapped in leaves, surrounded by green energy source icons
Source: maeching chaiwongwatthana/Shutterstock

What do you need to know about Advent today?

Well, this morning the company released a statement announcing that it had signed a “technology assessment, sales, and development agreement” with Hyundai. As part of the partnership, Advent aims to provide green energy solutions for “current high carbon applications” and energy models. Fuel cell technology is one of the company’s solutions — something it has become increasingly familiar with of late.

In the release, the company highlighted three major areas it hopes to assist Hyundai with as part of the project:

  • “Developing inks and structures using IFAT catalysts, which will then be evaluated by IFAT. Following evaluation, Hyundai will determine whether IFAT or standard catalysts will be used for this project.”
  • “Supplying MEAs [membrane electrode assemblies] throughout the development/commercialization cycle (‘Advent MEAs’) for testing, evaluation, and optimization under conditions set by Hyundai.”
  • “Assisting Hyundai with the use and specifications of MEAs as well as their implementation into Hyundai’s designs.”

ADN Stock Leaps on Hyundai Deal

Since its boom early last year, ADN stock has generally been on a downward trajectory. Accordingly, today’s news comes as a breath of fresh air for investors holding out hope for the green energy company.

This deal gives the company a high-profile partner with which to test out its potentially ground-breaking MEAs and related technologies. After the first phase of the project, Advent also hopes to integrate its stack cooling technology. The technology will help achieve future production milestones.

So far, the announcement has clearly pleased investors. ADN stock is enjoying its largest jump in recent memory.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/04/why-is-advent-technologies-adn-stock-up-today/.

©2024 InvestorPlace Media, LLC