A New Jersey-based aerospace company just announced that through its subsidiary, it sold ‘ThinkLiteAir’ air monitors to an Ivy League University. Shares of Bantec, Inc. (OTCPK:BANT) rallied following the news as the company’s new venture, Bantec Sanitizing, will provide products and services such as sanitizing supplies, robots, UV lights and deep cleaning services as the demand in this business segment has risen since the start of the COVID-19 pandemic.
Bantec, along with its subsidiaries, provides unmanned aerial vehicles (UAV) and related services. Principally, it is engaged in the business of research, design, development, testing, manufacturing, distribution, exportation, and integration of low altitude UAV systems, services, and products. The company also provides procurement, distribution, and logistics services. It focuses on distributing, drones and related services and environmental/construction products and services.
Traders were optimistic on the news as shares of this micro cap hit a session high of $0.0297/share (+56.31%) following the headline. This move is a breath of fresh air for those investors who have been holding this stock during the pullback since it made its 52-week high of $0.10/share last month.