One of the stocks that have made significant momentum this week is that of Seafarer Exploration Corp (OTCMKTS:SFRX) after it emerged that the company has managed to hit highly important milestones. A milestone that has created a lot of optimism is that Seafarer has now become a defense contractor for the United States.
Additionally, the company has also started generating revenues from its blockchain encryption business. In addition to that, the company has also managed to grow its revenues considerably, thanks to its first government contract. That has been another reason why investor confidence is quite high with regards to the Seafarer stock.
The company’s business is quite unique. Seafarer is engaged in archaeological research and is also involved in recovering as well as conserving old shipwrecks. However, that is not all. Seafarer is an expert in researching the archives of a ship and also possesses the skills to translate historical documents that are available in repositories across the globe.
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The Chief Technology Officer of the company, Dr. Michael Torres, stated that Seafarer’s partnership with Advanced Autonomous Radar Interrogation Technology has proven to be a major boost. Due to that partnership, the company now has the ability to detect noble metals, and that can be deployed in a wide variety of projects.
However, the main reason behind the significant rally in the Seafarer stock is ultimately rooted in the company’s rising revenue, and hence, it is worthwhile for investors to add this stock to their watch lists. The Chief Executive Officer of the company Kyle Kennedy also stated that Seafarer has changed its business plan and aims considerably in recent times. That could also be a major reason behind the remarkable turnaround in the company’s fortunes. The company wants to expand into new industries, and if it succeeds, then it could have a hugely positive effect on the stock price. The underlying fundamentals are strong, and it is likely that the uptick might continue.