ToughBuilt Industries, Inc. (NASDAQ: TBLT) is climbing in the market today, and for good reason. The company announced that it has received two new design patents.
As you could imagine, the news excited investors who are pushing the stock on a run for the top. Today, we’ll talk about:
- The new patents;
- what we’re seeing from TBLT stock as a result; and
- what we’ll be watching for ahead.
TBLT Announces Patent News
As mentioned above, ToughBuilt Industries is having a great day in the market today after announcing patent news. The news came by way of press release early this morning.
In the release, the company said that the United States Patent and Trademark Office (USPTO) has granted it patents numbers D840,961 S and D841,635 S. In the release, TBLT said that the patents cover its ruggedized mobile devices and will remain valid for 15 years.
The company reminded investors that it has developed a line of ruggedized smartphones with proprietary applications that are designed to maximize the productivity of construction workers and others in the field. In a statement, Michael Panosian, CEO at TBLT, had the following to offer:
The issuance of these patents represents a significant milestone in our efforts to diversify our products and the markets we serve. These durable mobile devices epitomize the ToughBuilt name as they are designed to endure harsh conditions and give users a technological advantage in the field. Companies in the construction industry, along with field workers and hobbyists, not only utilize mobile devices to communicate, but desire apps that enhance project and work efficiency.
Our goal is to disrupt the market with patented and patent-pending technologies throughout our flagship line of ruggedized mobile products and accessories. We remain on track to launch our first ruggedized smartphones in mid-2019, and believe this market represents a significant growth opportunity for the Company and will open the doors to other markets, including outdoor wellness and leisure, such as climbing, hiking and camping, and military uses.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to ToughBuilt Industries, the news proved to be overwhelmingly positive.
After all, investors like to invest in companies that have strong protection and market exclusivity. This only further strengthens the company’s IP portfolio, which is bound to excite investors.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:36), TBLT is trading at $1.71 per share after a gain of $0.16 per share or 10.32% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keepa close eye on TBLT. In particular, we’re interested in following the story surrounding the company’s continued work to protect its products, expand sales, and provide value for investors. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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