The Strategic Elements Ltd (ASX: SOR) share price is skyrocketing today.
The company’s share price has soared 44% to 21 cents at the time of writing. In earlier trade, the Strategic Elements share price hit 23.5 cents, a jump of 62%. For perspective, the S&P/ASX 200 Index (ASX: XJO) is 0.21% in the red today.
Let’s take a look at why the Strategic Elements share price is having such a good day.
Strategic Elements shares are charging higher after the company reported a positive development from a collaboration with the University of New South Wales (UNSW).
The company’s 100%-owned subsidiary Australian Advanced Materials (AAM) and UNSW have made a step-change in generating electricity from moisture.
It comes as the company eyes the lucrative electronic skin patches market.
Breakthroughs in battery technology have shown the potential to increase electrical charge capacity from milliamp-hours (mAh) to ampere-hours (Ah).
Strategic Elements said this established the technology as a “world leader globally”.
In a statement authorised by managing director Charles Murphy, Strategic Elements said:
It wasn’t long ago that many said it was impossible to produce any usable energy from moisture.
Our team experienced a lot of scepticism. For us to now realistically target the ampere-hour range generation of electrical energy solely from humidity in the air is a huge achievement.
There is an obvious near-term target market in electronic skin patches, but we are also excited about clearly being in the early stage of testing the fundamental upper limits of this technology.
Strategic Elements operates as a pooled development fund that invests in Australian innovation.
Share price snapshot
The Strategic Elements share price has shed 32% in the past year and is down 24% year to date.
In the past week, it has surged 17%, while it is up nearly 8% in the past month.
For perspective, the benchmark S&P/ASX 200 Index has shed nearly 1% in the past year.
Strategic Elements has a market capitalisation of about $80 million based on today’s share price.
The post Strategic Elements share price rockets 60% on ‘breakthrough’ news appeared first on The Motley Fool Australia.
Should you invest $1,000 in Strategic Elements right now?
Before you consider Strategic Elements , you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Strategic Elements wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of January 13th 2022
- Why CSL, Dicker Data, Lifestyle Communities, and Money3 shares are rising today
- Time is running out to secure dividends from these 3 ASX 200 shares
- Why are brokers so bullish on the Northern Star share price?
- Why is the Sezzle share price tumbling 8% on Wednesday?
- What’s with the Woolworths share price on Wednesday?
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/xfnavUX