One of the stocks which could well be on the radars of many investors today is the Mass Megawatts(OTC:MMMW)  stock owing to a key announcement from the company yesterday.

Market Reaction

On Monday, MMMW stock ended up by 2.50% to$0.0163 with 293K shares, compared to its average volume of 545K shares. The stock moved within a range of $0.0140 – $0.0164 after opening trade at $0.014.

The company announced yesterday that it had been successful in bringing about an additional 20% improvement in the redesign of its solar tracker for which a patent is still pending. The improvement brought about by Mass Megawatts is going to help in boosting the solar reflection effect related to the receiving of electric power output from the posterior of the solar panels.

Hence, it will be able to pick up solar rays from both sides of the solar panel. It was a major new development for the company and one that could lead to significant optimism among investors as well.

This particular improvement is going to help in further cost savings and that is an important thing for investors to keep in mind. At the end of the day, solar tracker technology is something that provides a competitive advantage since it is originally a low-cost procedure for protection against some extreme weather-related events.

On the other hand, the latest improvement is also going to lead to higher power output since solar panel reflection would take place from both sides. The improvement is expected to bring about a boost in power production by as much as 7%. It may be a good idea for investors to consider adding the Mass Megawatts stock to their watch lists at this point.

Traders Review

MMMW stock is trading below the 20-Day and 50-Day Moving averages of $0.0187 and $0.0247 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0295.

By Ankit Singhania

Based in India, Ankit is a financial content writer and stock market analyst. He has worked for more than a decade on several financial projects related to stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance (MS – finance) from ICFAI.

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