Perhaps a name change is all that it takes to right a stock that has been on a steady decline for the past year. And apparently, it needs only a cool sounding mythological creature combined with a dinosaur, throw in a diamond and voila.
Sweetwater Resources was granted permission to trade as Centaurus Diamond Technologies (CTDT) in a move to better reflect the core of its business. Or perhaps, it simply wanted to spur trade upwards on its struggling stock. Either way, at least for the day, its sounds cooler and it was reflected in a doubling of the stock’s trading price.
FINRA granted the name change and investors were rewarded. Whether that will remain the case tomorrow when investors see little more news than a simple name change was responsible for this rise remains to be seen. This is not to say that the industrial diamond market should be overlooked.
It’s difficult not to think of the diamond as nothing more than a gemstone, yet jewelry is only responsible for 20% of the diamond’s use. The industrial diamond is used in a number of industries, including but not limited to: computer chip production, construction, machinery manufacturing, mining services, stone cutting and polishing, as well as transportation. The United States is the largest market for industrial diamonds, and looks to remain so for the foreseeable future.
In addition to the cost effective nature of industrial diamonds, the average cost per carat in 2011 was $27, the synthetic industrial diamond’s hardness, thermal conductivity and electron mobility make it easier to customize for specific uses when compared to the natural diamond.
Ninety-five percent of the worlds synthetic diamonds are used for and make excellent cutting, sawing, polishing, drilling and grinding tools. The bulk of the diamonds used for these purposes are smaller than a carat.
On the flip side of this is the diamond’s use in high-tech applications. The bulk of present synthetic diamond research, including the work that Sweetwater…Er…Centaurus does looks at the diamond’s use in transmitting infrared and microwave radiation; as semiconductors in electronics; and for use in X-ray machines, heat sinks in electronic devices, laser windows, high-sensitivity sensors and acoustic systems. These are simply a few of the present and possible applications.
The name change and more information on Centaurus from its president, Alvin Snaper, are available for reading here.
Please make sure to read and completely understand our disclaimer at https://www.wallstreetpr.com/disclaimer. While reading this article one must assume that we may be compensated for posting this content on our website.