Taronis Technologies TRNX Stock News

Taronis Technologies Inc (NASDAQ: TRNX) is falling hard in the market this monring, trading on losses of 13.33% so far today. Considering all of the positive news issued by the company as of late, many are wondering why the stock is falling.

At the end of the day, it seems as though TRNX is in the midst of a profit-taking frenzy today, which is a natural reaction when penny stocks see dramatic gains. Nonetheless, the profit taking seems to be creating an opportunity.

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Recent News Suggests Opportunity In TRNX Stock

Taronis Technologies has been the center of quite a bit of news as of late. In fact, in just the last few trading sessions, the company has announced record MagneGas production, record sales, and a spin off.

In my view, the biggest news issued by the company as of late came on July 8, 2019 when TRNX announced record MagneGas production. MagneGas is a welding fuel that is sustainably derived using the company’s proprietary Venturi Plasma Arc Gasification System.

In the announcement, the company said that it produced more than 247,000 cubic feet of MagneGas in the second quarter. Impressively, this production was accomplished through the use of only one Venturi Arc Gasification unit.

This is important because it sets the stage for expectations of meaningful growth ahead. After all, just a few weeks ago, the company brought a second unit online. This could greatly increase production, and therefore value for investors. Moreover, TRNX said that it expects to bring yet another unit online in August, only expanding the opportunity.

The record production of MagneGas led the company to breaking another record. On July 11, 2019, Taronis Technologies said that it achieved record sales of $1.85 million in the month of June. This figure represented a year over year growth rate of 111%.

Moreover, quarterly sales hit record levels as well. During the quarter, the company generated $6.06 million, representing year over year growth of 107%.

Shortly after the record breaking announcement, TRNX said that it would be spinning off Taronis Fuels, the subsidiary that produces MagneGas and manages the company’s retail outlet, MagneGas welding supply. As a result of the spin off, all shareholders on record as of the close of the transaction will receive one share of the newly-spun off entity for each share of TRNX owned.

Outside of MagneGas, Taronis Technologies also provided an update with regard to its water treatment service. In fact, the company used its technology to greatly reduce cyanobacteria in a lake in Clearwater, Florida during a blue green algae bloom. This success will likely lead to further municipal contracts for this type of service ahead, further expanding revenue and value for investors.

There May Be A Big Catalyst Coming

In the most recent press release from Taronis Technologies, the company announced that it will be hosting a conference call on Monday, August 5, 2019. The call will be held at 4:00 PM ET.

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During the call, CEO at TRNX, Scott Mahoney, will provide an update on recent developments and the company’s plans for the rest of the 2019 year. Considering the positive news that has been released as of late, this update is expected to be positive as well, which could act as a catalyst, sending the stock screaming upward. If you would like to take part in the call, use the information below:

  • Phone – (877) 407-0989 – ID 13692846
  • Webcast Click Here.

Final Thoughts

While TRNX stock is falling in the market today, that is to be expected considering the strong run in value that we’ve seen from the stock as of late. Nonetheless, with record production and revenue recently announced, a spin off that will add further value, and the company’s water treatment service receiving validation through a successful pilot project, there are plenty of reasons to dive in this stock, especially considering the discount created by today’s profit taking.

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