One of this week's hot movers, GelTech Solutions (GLTC.OB), bursted through a dollar on Thursday afternoon, supported by trading volume that was more than ten times the normal average. Volume had been increasing over the past week on anticipation that distribution for FireIce, GelTech's flagship product that could quickly revolutionize the firefighting industry, would quickly boom now that governments around the globe have started taking notice of the potential revenue and resource savings that FireIce could provide.
The growing volume is an indicator that new investors are taking notice of this company and its technology, and with national-level approvals and qualifications having been awarded GelTech through 2011, 2012 is destined to become a year of significant growth in distribution.
Already a hot mover, the quick burst through the dollar mark may put this stock on even more radars, although some may be looking to take some profits off the table after the very quick near-double in price.
That said, with a market cap of still just over twenty million, there is still the potential that full value is still far from being reached for GLTC. The market potential of FireIce could be huge, as tests have demonstrated that this product is superior to any competitors on the market, such as firefighting foam, and testimonials from firefighters themselves - from Montana, for example - could add fuel to any spark in distribution growth.
Still a hot mover, don't lose sight of GLTC as volume is still building and the stock was up another 20% on Thursday afternoon.
Disclosure: Long GLTC.