Kraig Biocraft Laboratories Inc. (PINK:KBLB) has been keeping silent since Aug. 8. While the company has elected not to issue press releases, an article appeared on Laboratory News. It was the reason for Friday’s move.
KBLB closed up 22.33% at $0.1101 with approximately 1.6 million shares traded on Friday.
The article in question is about genetic modification, some of its uses, and the commercialization of genetically modified animals.
The author also talks about zinc finger nuclease technology used by KBLB, but the article doesn’t mention KBLB anywhere, even in the part that focuses on spider silk.[BANNER]
Different opinions have been expressed about how the article affects KBLB, and although some said it would hurt the stock of the company the market response was generally positive.
The fact remains, however, that KBLB hasn’t released updates on its progress. In an August press release Kim Thompson, CEO of KBLB, said the results from the first round of insertions could be out in early Fall, and from the second round middle to late Fall.
Some traders speculate that KBLB is taking its time to make sure everything is as it should be, but since the company hasn’t made any comments, it’s only a guess and time will tell what the actual situation is.
