Kraig Biocraft Laboratories (OTC: KBLB) saw a huge gain today, after Kim Thompson, the company’s CEO and founder, posted an open letter to shareholders on the company’s website. The letter covered the key topics of commercialization and laboratory updates.
Kraig Biocraft Laboratories traded to an all-time low closing price of $0.031 last Friday, August 3, 2012. Opening at a share price of $0.04 and closing at $0.0475, Kraig Biocraft Laboratories now trades 39.7% higher than its previous close. Volume of the stock also surged to a total of 2.2 million shares, bypassing its daily average of 608,398 shares. Kraig Biocraft had been steadily declining since New Year’s Day and has a year-to-date loss that still totals 35.7% despite today’s impressive rally.
Many newsletters have promoted Kraig Biocraft according to the 104 results found on stockpromoters.com. Oddly, the most recent promotions listed are from 2011. The lack of promotions in 2012 could be an explanation for the stock’s less-than-attractive performance this year. On Twitter, @pennystock24 mentioned that Penny Trader COM promoted Kraig Biocraft Laboratories today.
Aside from the CEO’s letter to its shareholders, recent headlines for Kraig Biocraft Laboratories have been scarce, which could be another reason behind the discouraging overall performance of the company’s stock. Here are some of the few headlines found for the company:
- June 27, 2012: Kraig Biocraft Laboratories announced that the company’s recently-opened private laboratory had significantly increased Kraig’s ability to generate its proprietary Monster Silk(TM) production platform silkworms.
- February 7, 2012: Kraig Biocraft Laboratories announced that the company’s spider silk technologies, including Monster Silk, were featured as the “Quality Fabric of the Month” in the leading textile industry publication, Textile World.
- January 19, 2012: Kraig Biocraft Laboratories announced that the company’s CEO and founder, Kim Thompson, was recently featured in an interview with TheStockRadio.com.
Kraig Biocraft Laboratories was incorporated on April 25, 2006. The company is in the first stage of development, which is to develop a transgenic silkworm that can produce a natural spider silk fiber. This is done by inserting genetic sequences into ordinary silkworms using genetic engineering technology under the license and collaboration agreements with the University of Norte Dame and the University of Wyoming.