Today shares of Kronos Advanced Technologies (OTCMKTS: KNOS) are up over 67% so far this morning on over 31 million shares of trading volume as traders flock today to find a penny stock to buy as a coronavirus play. Last week we saw MZEIQ rally like this and today KNOS is doing this.
Here is the current price action for the stock this morning. As you can see the stock actually started to move a bit last week. It appears that some positioned themselves for today’s big move.
Kronos is a company involved in air filter equipment. It owns a patent in Hong Kong according to an SEC filing today for an air filter. Penny stock traders are buying the stock with the idea that people are going to want to buy air filters in order to protect themselves from the coronavirus.
Traders on twitter are very excited:
$knos Kronos filter is an amazing product,invented by the CEO, a former NASA and Lockheed engineer.— Bay Tech Repair (@BayTechRepair) January 27, 2020
However, the company is not selling these air filters right now and made less than $100 in revenue in its last quarter. This morning’s SEC filing by the company states – “The only patent in 2018 that the company has retained is the Electrostatic Air Cleaning Device, No. 08105074.0, registered in Hong Kong. Current management has assessed that the value is not more than $10,000 and the patent was written down to that amount in 2009.”