Ascent Solar Tech (NASDAQ: ASTI)
Ascent Solar is having a rough day in the market, and while I do believe it’s warranted, I’m still a bull on the stock. The declines are the result of the stock being booted from the NASDAQ. Nonetheless, I still believe that there are plenty of reasons for this one to climb. Today, we’ll talk about the news with regard to ASTI and NASDAQ, why I still maintain a bullish opinion on the stock, and what we can expect to see from ASTI moving forward. So, let’s get right to it…
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ASTI Will No Longer Be Traded On The NASDAQ
Yesterday, Ascent Solar announced that on February 23rd, the company received a notification from the NASDAQ. The notice was with regard to a pending appeal that ASTI had with the stock exchange. Unfortunately, the appeal before the NASDAQ Listing Qualifications Hearning Panel had been denied. Therefore, trading ASTI on the NASDAQ will be halted starting on the open of business on February 25th, 2016. However, this doesn’t mean that ASTI cannot be traded. In fact, Ascent has been approved for trading on the OTCQB Venture Market and will will start trading on the market at the opening bell on February 25th. It’s also important to note that the move to OTCQB will not have any affect on the company’s business operations and it will continue to file periodic and certain other reports with the SEC under federal securities laws.
How The Market Reacted To The News
As investors, we’ve learned that any time there is negative news with regard to a publicly traded company, we can expect to see negative movement in the value of the stock. Unfortunately for ASTI and its investors, the news that NASDAQ will suspend trading of the stock is bad news. As a result, we’re seeing poor movement surrounding the stock in the market today. Currently (11:09), ASTI is trading at $0.06 per share after a loss of $0.03 per share or 31.03% thus far today.
Is This The End Of ASTI As We Know It?
Not even close my friends. While the fact that the stock is being removed from the NASDAQ is bad news, there are plenty of reasons to be bullish on Ascent Solar. Here are just a few…
- Incredible Solar Achievements – Recently, we learned that ASTI has achieved an incredible breakthrough. The breakthrough had to do with superlight solar modules. The goal here was to create lightweight modules that produce meaningfully more energy than anything else on the market, and ASTI has reached that goal. Recently, the company was able to produce 1,700 wats per kilogram, which will prove to be a massive achievement with regard to in space and near space solar applications.
- GSA Schedule 56 Contract – Late last year, it was announced that Ascent Solar was granted the GSA Schedule 56 contract. Under this contract, it is now easy for governmental bodies like the United States Military and United States Forest Service to purchase ASTI products. This has already started to increase demand for the company’s products and will likely continue doing so; leading to stronger revenue and stronger earnings.
- Patent Protection – Recently, there have been several announcements with regard to ASTI being awarded patents. The patents have had to do with the manufacturing process of their lightweight solar modules, ensuring that competition will be held at bay.
So, the bottom line here is that we’ve seen a ton of good news out of ASTI. While I’m upset to see the stock leaving the NASDAQ, I still believe that we’re witnessing the beginning of an incredible growth story!
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What Do You Think?
Where do you think ASTI is headed and why? Let us know your opinion in the comments below!
[Image Courtesy of Wikipedia]