PENNY STOCK REVVING UP; COMPANY'S TECHNOLOGY ADVANCE IN FUEL SAVING EXCITES INVESTORS.Byline: Ben Sullivan Daily News Staff Writer Shares in BAT International have skyrocketed in the new year, gaining 20 percent Wednesday alone, on expectation that the company today will demonstrate an internal-combustion engine internal-combustion engine, one in which combustion of the fuel takes place in a confined space, producing expanding gases that are used directly to provide mechanical power. capable of getting 80 miles per gallon Noun 1. miles per gallon - the distance traveled in a vehicle powered by one gallon of gasoline or diesel fuel unit, unit of measurement - any division of quantity accepted as a standard of measurement or exchange; "the dollar is the United States unit of of gasoline. Shares in the penny stock Penny Stock A stock that sells for less than $1 a share but may also rise to as much as $10/share as a result of heavy promotion. All penny stocks are traded OTC or on the pink sheets. Notes: Penny stocks are highly speculative and risky. rose 7 cents Wednesday to close at 42 cents, on volume of more than 5.4 million shares, or 20 times its six-month average daily trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. . BAT shares had hit a 52-week low of 8 cents Dec. 31 but climbed steadily since, opening this week at 14 cents. Joseph LaStella, BAT chief executive officer, said Wednesday that his Burbank-based firm today will demonstrate technology developed by its Dolphin ACI ACI American Concrete Institute ACI Arch Coal Inc ACI Airports Council International (formerly Airport Associations Coordinating Council) ACI Automobile Club d'Italia ACI American Competitiveness Initiative subsidiary that lets a modified Chevrolet GEO Metro travel more than 80 miles on a single gallon of gasoline. The car will be driven at least 500 miles as part of the test at the California Speedway in Fontana, he said. LaStella said the technology requires no new moving parts for engines and no major retooling by engine manufacturers that incorporate it into their products. ``I know it sounds like the proverbial black box, but it's true, and it's here,'' he said. LaStella said BAT hopes to sell licenses for the technology to automakers for about $50 million each starting Friday. At such a price, even a single license would generate more than twice the company's current market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of about 22 million. The 33-employee company develops and manufactures electric automobiles, bicycles and other low-emission vehicles. CAPTION(S): Chart Chart: (Color) Recharged Daily News |
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