Taronis Technologies (TRNX) Stock Has More Gains To Come

Taronis Technologies TRNX Stock News

Taronis Technologies Inc (NASDAQ: TRNX) has had a strong run in the market over the past month, climbing 188% in the period. Nonetheless, with the stock down more than 5% this morning, some investors are starting to get concerned.

Nonetheless, the gains that we’ve seen in the stock have happened for very good reason, and the profit taking is nothing to be concerned about. Here’s what’s happening:

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Why TRNX Stock Is Falling

The first thing that you need to remember when it comes to Taronis Technologis is that the company has a market cap of just over $14 million, TRNX is a penny stock. With that said, it’s common for penny stocks to go on strong runs upward that are followed by profit taking. That seems to be what’s happening today, but chances are that it will be nothing more than a bump in the road.

Things Are Looking Up For Taronis

As mentioned above, the recent gains that we’ve seen from TRNX stock are far from unwarranted. The truth of the matter is that the company has issued a slew of news as of late that’s led to all of the excitement. You can comb through all recent news here.

Most recently, the company announced that it expanded a water pilot relationship with a large Holiday Inn franchisee.  This was huge news for Taronis as the expanded relationship means that it will receive an additional $400,000 in revenue along with an additional $40,000 in recurring revenue.

In other news, the company announced that its to-be-spun-off subsidiary, Taronis Fuels just entered into a contract to provide a Turkish customer with up to 30 Venturi Plasma Arc Gasification units. The contract could lead to revenue of $165 million, should the buyer decide to exercise an option to purchase all of the units involved.

This is great news for those that hold TRNX stock. When the spin off takes place, shareholders will receive one share of Taronis Fuels. So, the contract with the Turkish client greatly expands the value of these shares.

On the topic of Taronis Fuels, the company also generated record MagneGas production in the most recent quarter. TRNX said that the production was achieved using only one Venturi Plasma Arc Gasification unit. However, in July, a new unit came on line with another expected in September. As such, production is expected to continue breaking records. Not to mention, this record production has led to record revenue growth.

Finally, Taronis Technologies recently announced the successful commercialization of its water treatment service. This was done by significantly reducing cyanobacteria in a lake in Florida during a blue-green algae bloom. With this bacteria representing serious risk to consumers, and therefore the economy, more municipalities are likely to jump on the bandwagon and purchase these types of services from TRNX.

All in all, in the past couple of weeks, Taronis Technologies has gone from questionable to undeniable. The company is making all the right moves at the right times, leading to the tremendous run in value that we’ve seen. Nonetheless, I believe that TRNX will continue to see gains ahead after some short term profit taking.

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Never Miss The News Again

Join our FREE mailing list below to receive real-time alerts!

Subscribe Today!

* indicates required

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.