From the 20th of this month, NVST.PK has been steadily up-treding towards higher prices. The bullish trend continued today as the stock reached a High-of-Day at $0.015 – a 114% gain from yesterday’s close. Shares are currently trading at a penny a share.
NavStar Technologies is focused on designing and manufacturing its voice activated personal navigation device. According to ABI Research, out of the 300M vehicles currently on the road in the United States, only 9% use a navigation device. However, the market for personal navigation solutions is expected to grow and reach a volume of more than 100M units by 2011.
The U.S. accounts for 23% of global sales for navigation systems. The Research firm estimates that 53 Million units will be sold in Europe and North America in 2012. The Company’s products are uniquely positioned to take advantage of this growing demand as they are the only company manufacturing a display-free, hand-free, voice activated personal navigation device.
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