KYN Capital Group Inc (OTCMKTS:KNOS) was the notable loser in the Monday’s trading session after the news.
Market Reaction
On Monday, KNOS stock slumped 24.40% to close at $0.016.Volume was hefty with more than 580.08 million shares traded hands, compared to its average volume of 158.70 million shares. The stock moved in a range of $0.0116 – 0.0210 after opening at $0.0210.
Major Trigger:
Kronos Advanced Technologies Inc Best Selling Products Now Available on Wayfair.com
Key Highlights:
- announced that the Company’s best selling patented air purifiers product line is now available for purchase online through Wayfair.com, one of the world’s largest online destinations for home furnishings and décor.
- Recently, CNBC published the heading: “How Wayfair is Becoming the Amazon of the Home Goods Market”
- With people spending more time at home than ever before, furnishing home offices and upgrading living rooms has become a top priority for shelter-in-place shoppers. And that has been great news for Wayfair.
- Wayfair is a relatively young home decor and online furniture store. It’s like the Amazon of furniture and home accessories, connecting shoppers to over 18 million products. Since Covid-19 struck, shares at the Company have skyrocketed.
Key Quote:
“We’re very excited to have our products available through Wayfair.com,” said Michael Rubinov, President of Kronos. “Wayfair is one of the largest online-only home goods retailers in the world, with almost 17,000 employees and more than 33 million active customers. Distributing our products through Wayfair will extend our Kronos® air purification product line to markets and consumers that we couldn’t reach through traditional sales and marketing channels.”
