SCON Shares Up 76 Percent Following Joint Venture Announcement
Superconductor Technologies (Nasdaq: SCON) this morning announced a joint venture with Hunchun BaoLi Communication (BAOLI). The two companies will work together in the development and manufacture of SCONs SuperLink interference elimination solution. Following the announcement, SCON trading skyrocketed. There was pre-market movement and by 8:50 a.m. CDT the company had volume of 1.9 million with a 76 percent jump. Shares went from Friday’s close at $3.33 per share to $5.91 per share this morning. The heavy trading shows market excitement over the new partnering. Within the joint venture, SCON will provide the technology of its SuperLink solution, while BAOLI will…