24/7 Market News Snapshot 25 November, 2024 – SmartKem, Inc. Common Stock (NASDAQ:SMTK)

November 25, 2024

DENVER, Colo., 25 November, 2024 (247marketnews.com) – (NASDAQ:SMTK) are discussed in this article.
SmartKem, Inc. is experiencing a notable surge in pre-market trading, with shares currently priced at $3.670, reflecting an impressive increase of 14.69% from the previous close. The heightened investor interest is underscored by a trading volume of 517.47K shares, which enhances market liquidity. This price movement indicates a break above previous resistance levels, suggesting the potential for further gains if the buying pressure continues. Traders are advised to monitor key technical indicators, including moving averages and relative strength index (RSI), to substantiate the prevailing bullish sentiment and aid in identifying optimal entry points for positions in SmartKem stock.

In a significant development for the company, SmartKem has announced a groundbreaking partnership with AUO, a leading player in display manufacturing. This collaboration aims to advance the creation of the world’s first rollable, transparent microLED display by harnessing SmartKem’s innovative organic thin-film transistor (OTFT) technology. The microLED technology represents a significant advancement due to its superior brightness, energy efficiency, and longevity compared to conventional displays.

This new display will utilize SmartKem’s proprietary transistors, which are processed at lower temperatures, simplifying the manufacturing process and allowing for the use of flexible and cost-effective plastic substrates. Ian Jenks, SmartKem’s Chairman and CEO, highlighted the partnership’s potential to lower production costs while bringing high-quality microLED displays to the mass market.

Commencing on January 1, 2025, this initiative is backed by a grant from the 2024 UK-Taiwan Research & Development Collaboration, signaling a strong commitment to technological innovation. As the display industry looks to evolve, SmartKem’s advancements may significantly influence the future of display technology, enhancing consumer experiences worldwide. Investors and industry stakeholders are encouraged to monitor this promising collaboration closely as it unfolds.

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