Taronis Technologies (TRNX) Stock Dips But Will Bounce Back

Taronis Technologies TRNX Stock News

After dramatic gains in value yesterday, Taronis Technologies Inc (NASDAQ: TRNX) is taking a bit of a beating in the market today. The stock is down just over 10% this morning as profit takers seem to be doing their thing. Nonetheless, as I’ve said during previous declines, TRNX stock is likely to bounce back. Here’s what you need to know:

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Here’s What’s Dragging TRNX Stock Down

First and foremost, before we get into the long-term opportunity here, it’s important that you understand just why Taronis Technologies is taking a dive today.

The declines come after the stock climbed from $0.31 per share to a close of $0.54 per share. This is an important fact to consider, especially when looking at a penny stock.

In the world of penny stocks, we tend to see a bit of profit taking any time a stock sees dramatic gains. With the climb in value experienced by TRNX yesterday, it only makes sense that the profit taking would commence today.

Nonetheless, I don’t believe that the declines are going to last very long. There’s just too much recent positive news that has been issued by the company to expect any declines outside of normal trading activity. With that said, here’s what’s been happening at TRNX:

Recent News From Taronis Technologies

The dramatic gains in TRNX stock yesterday were led by the company’s newly inked deal with a Turkish entity for the sale of several Venturi Plasma Arc Gasification units, as well as service and maintenance agreements surrounding them.

Under the agreement, the Turkish entity will start by purchasing 15 Venturi Plasma Arc Gasification Units from Taronis Fuels over the next 18 months. Following the purchase of the first 15 units, the entity has the option to purchase an additional 15 units, along with the maintenance and service terms that come with them.

Each unit will be purchased at a price of $3.75 million. Moreover, Taronis Fuels will earn an additional $1.75 million for each unit from the 10 year maintenance contract tied to the sale of each unit. All in all, if all options are taken advantage of here, TRNX will generate $165 million in revenue.

Nonetheless, this hasn’t been the only positive news issued by Taronis Technologies as of late. In the past several weeks, the company has issued press releases surrounding record production, record revenues, a spin off, a positive decision from the Nasdaq, successful commercialization of its water treatment service and more. Click here for a list of all recent news.

The Bottom Line

The bottom line here is that while Taronis Technologies is falling in the market today, the declines are not likely to be a long-term phenomenon. The truth of the matter is that TRNX is making all the right moves at the moment, greatly expanding value for investors. Sure, profit takers are going to jump in after strong gains, but this profit taking won’t last forever. As such, it’s likely creating an opportunity to get in at a discount.

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