Taronis Technologies TRNX Stock News

Taronis Technologies Inc (NASDAQ: TRNX) is having a relatively rough start to the trading session today, trading on losses of 3.33% thus far. Nonetheless, the recent declines in the stock may be a big opportunity. Moreover, with a granted NASDAQ extension, things are looking even better. Here’s what’s happening:

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NASDAQ Grants TRNX Stock An Additional Extension

In a press release issued early this morning, Taronis Technologies announced that the NASDAQ has granted it an additional extension to regain compliance with the minimum bid price rule.

Previously, TRNX had until August 22, 2019 to meet the $1.00 minimum bid price requirement. However, in the announcement today, the company said that the NASDAQ has provided an etension until September 23, 2019. By this date, the stuck must have traded with a bid price at or above $1.00 per share for 20 consecutive days.

Considering the timing of the recent reverse stock split, and the current trading price of the stock, there should be no problem reaching this requirement and getting past the entire non-compliance issue.

This is great news. After all, a delisting from the NASDAQ would mean that liquidity would feel pain, dragging down value for investors involved in the stock. Nonetheless, with the news released today, we know that TRNX will maintain its listing status.

More Positive News Likely On The Horizons

Recently, we’ve seen a slew of positive news out of Taronis Technologies. One big story that investors are watching is the spin off of Taronis Fuels. Once this takes place, those who are holding onto shares will be provided shares of the new Taronis Fuels entity on a one for one basis.

Considering the fact that Taronis Fuels has seen a strong increase in production and revenue as of late, shares of the company will be well worth having.

Moreover, the TRNX that’s left after the Taronis Fuels spin off is going to be something worth at least looking into. After spinning off the fuels side of the business, Taronis Technologies will be primarily focused on water technologies.

These are the technologies that led to the company’s ability to substantially reduce the amount of cianobacteria during a blue green algae bloom in Central Florida and the technologies that led to a Holiday Inn Franchisee locating a water leak that was costing a substantial amount of funds.

Ultimately, recent news from TRNX has validated their work on the water side. With a proven ability to combat cianobacteria, municipalities all over the southern United States will likely want to take advantage of services. Not to mention, there is a huge number of hotels across the United States and around the world that would likely benefit from being able to pinpoint and effectively erradicate leaks in their water systems.

At the end of the day, the spin off will give investors access to high value shares on the fuel side while giving Taronis Technologies the ability to focus its efforts on the core water technologies that have the potential to become blockbuster products in the coming years. All in all, TRNX is a stock that’s well worth paying attention to.

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3 COMMENTS

  1. Pretty sure the spin off has been stated by Scott and a few other channels the ratio was going to be 5 to 1 to make up for the reverse split and i believe the ex dividend date was November 6th

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