Midwest Energy Emissions Corp (MEEC) Continues to Hit New Highs: Now What?
It is often noticed that investors tend to focus on stocks that have displayed steady gains over a reasonable period of time and over the years such a strategy has generally proven to be correct. The Midwest Energy Emissions Corp (OTCMKTS:MEEC) stock could well be in that category considering the fact that it has recorded significant gains over the past two months.
What to Watch
During that period, the Midwest Energy stock has recorded gains of as much as 230% and it could be a good time for investors to perhaps take a closer look at the company’s business. Earlier in January, the company made an announcement with regards to a deal it struck with reached with national utility.
The company announced that according to the provisions of the deal, the national utility entity is going to be getting the non-exclusive license to use Midwest Energy’s patents. The patents are related to the process of Sorbent Enhancement Additive that is meant for removing mercury from coal-based power plants.
The national utility in question owns coal-based power plants. In light of the signing of the deal Midwest Energy has also dismissed the claims it brought against the national utility for having infringed its patents.
The Chief Executive Officer and President of Midwest Energy, Richard MacPherson, spoke about the development as well. He stated that the company is now moving ahead quickly with regards to signing new agreements and correcting the errors of the past. The new strategy from the company has also been rewarded by markets and that is apparent from the remarkable rally enjoyed by the stock over the past weeks.
Back in November last year, the company announced its financial results for the third quarter. The revenues in that quarter stood at $2.8 million, which was lower than the $3.8 million generated in the year-ago period. The drop in revenues was primarily due to the drop in coal-based power generation.
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