With a market downturn currently in effect, at least by the looks of it since the new quarter started, we'll take a look at some companies that may be able to buck the trend and outperform the markets over the short term. Tuesday morning we presented Immunocellular Therapeutics (IMUC) as one such company and now we bring you an update on Implant Sciences (IMSC).
In Tuesday morning's stock market roundup it was noted that growing volume in shares of Implant Sciences had finally materialized into a significant stock move, with shares closing the day Monday twenty percent higher than the previous close.
High volume continued into the open on Tuesday and IMSC's new found $1 share price held steady through mid-day trading.
As previously discussed, news of a contract in the United States with the Transportation Security Administration (TSA) is the holy grail of contracts for which investors are currently waiting, the company did announce news on Tuesday morning that is a further demonstration of the company's infiltration into the global security market.
In preparation for the Sixth Summit of the Americas that is to take place this weekend in Cartagena, Colombia, the Colombian National Police have selected Implant Sciences' Quantum Sniffer QS-H150 handheld explosives trace detectors and the Quantum Sniffer QS-B220 benchtop narcotics and explosives trace detectors to meet the security needs of the Summit.
Given the constant threat faced by Colombian security forces from the Revolutionary Armed Forces of Colombia (FARC), the choice of Implant's technology as part of layered defense strategy is a show of confidence by officials and a demonstration that the company's products are becoming known on a global scale.
Thirty four heads of state and government will be present at the Summit.
Recent hirings that indicated a ramp-up in production ignited the most recent price run and IMSC is a hot stock to keep an eye on.
VFC's Stock House will continue to monitor the situation.
Disclosure: Long IMSC.
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