AgriForce Growing (NASDAQ:AGRI) stock is rocketing higher on Tuesday morning after the agriculture-focused technology company announced a new patent in the U.S.
The United States Patent and Trademark Office (USPTO) granted Patent No. 11,895,958 to AgriForce Growing. The title of this patent is “Structures For Growing Plants (To Generate Micro-environment Conditions).”
According to AgriForce Growing, this patent is connected to its FORCEGH+ facility design. This is the company’s proprietary growing platform for growing optimized crops through Good Manufacturing Practices standards.
Richard Wong, Chief Financial Officer of AgriForce Growing, said the following about the patent news:
“We see the benefits of adding another key U.S. patent around our FORCEGH+ technology, which significantly expands the scope of coverage and extends the timeline around our IP.”
AGRI Stock Movement Today
Following this patent announcement comes heavy trading of AGRI stock on Tuesday morning. This has more than 37 million shares changing hands. For comparison, the company’s daily average trading volume is closer to 1.4 million shares.
AGRI stock is up 218.4% as of Tuesday morning.
Investors can find more of the latest stock market stories below!
We’re offering coverage of all the hottest stock market news for Tuesday! That includes the biggest pre-market stock movers this morning, the latest on inflation and more. You can catch up on all of that news at the following links!
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On the date of publication, William White 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.
