KBLB - Kraig Biocraft Laboratories is trading up forty percent today with a intraday high of .135, increasing its gains from a close of .09 yesterday. KBLB opened the week at .07 and has had almost a 100% gain since Monday's open. The upward move is powered by news released yesterday that KBLB has signed an agreement with Sigma-Aldrich (SIAL:NYSE) to develop genetically modified silkworms for the production of spider silk.
Genes transferred from spiders to silkworms is expected to allow mass production of silk with increased elasticity and strength with the potential for uses in a wide array of biomedical applications. KBLB has traded over ten-million shares today going into the closing session. Average daily volume is 692,000 shares over the last three months. Penny stock traders should place KBLB on their watch list since it is not everyday a penny stock company signs an agreement with a major company trading on the NASDAQ. The potential for further gains in this penny stock are excellent! Join our email list for penny stock market alerts and get intraday updates about stocks on the move!
4/13/2011