The stock market gapped up this morning to bring confidence to stock traders looking for stocks to buy. In the first 45 minutes of trading shares of Optec International (OTCMKTS: OPTI) are rising to be one of the top performing stocks on the US OTC exchange. As you can see from this chart though the stock has been on a steady rise for the past few weeks.
What has helped drive this stock up so much are two factors. The first is that the company has refashioned itself as a coronavirus play. It had been known as an automotive industry play with its OPTEC fuel maximizer products, but released something it calls the Iwand as a UV light sterilization device and then this Monday according to microcapdaily.com it announced “the ability to purchase the OPTEC ‘Rover I’ Germicidal Sterilization & Disinfecting Cart on the company’s UVC website store.”
Coronavirus plays are getting more attention among small cap stock traders than automotive plays right now. You can see this from the reaction on twitter from these tweets to the recent news from Optec International.
$opti did everyone miss the texts from the manufacturer of the COVID items?? Not only did they mention the iWand and Robert as exclusive to OPTEC to sell in the US but they also mentioned building an air scrubber. Am I the only one thinking this could be huge as well?— Sumiter (@Sumiterer) July 6, 2020
$opti Might just be one of the smartest investments of 2020+. As I look to obtain information on inventory levels, simple financial calculations are blowing my mind 🤯 I have adjusted short term target to $1.93 by EoY. Lastly, Rover and iWand products are just the beginning 🤫— Reviews Add Value (@ReviewsAdd) July 3, 2020
$opti i wand sold out, commercial rover sold out, call center launching tomorrow… not sure why there’s so much panic…— steve breezy (@stevebreezy5) July 7, 2020
$OPTI I’ve seen quite a few days like this. Every time I look back a few weeks later, it’s from a higher peak !!— Percy Holton Jr (@empowered_succ) July 7, 2020
The other thing about OPTI stock that has enabled it to rise like this is the fact that there are very few shares outstanding for people to buy. There are just a little over 691 million shares in its trading float. With a market cap of $54 million it doesn’t take much money to move the stock when the float is so small. The small price enables people to buy many shares all at once.
I do not own this stock. It has already moved up too much for me to want to buy. I am much more excited about my own top summer stock pick. You can get the details on it here.