POET Technologies (PTK: TSXV) is continuing its break out on the TSX Venture. After touching down at $0.175 per share earlier this month, POET is on the rise. In fact, POET’s shares closed up 20% to $0.27 per share Friday.
POET Stock Showing Resilience in July
POET Technologies – 6 Month Chart
On July 17th, POET Technologies provided highlights from its Annual General Meeting. The meeting took place in San Jose, California on Thursday, July 13, 2017. Because so many companies choose not to publish anything following their AGM, it is a treat for PTK shareholders to receive an update. POET reviewed its strategy, technology roadmap and product development activities for the coming months.
Below are the top four highlights:
“Strategy and Technology Overview
POET’s strategy is based on photonics integration (utilizing both monolithic and hybrid approaches) to lower cost and increase performance of disruptive solutions for the data communications and sensing markets, while focusing on the highest Return on Investment (ROI) opportunities available to the Company;
Recent explosive growth in the market for Indium Phosphide (InP)-based solutions for data communications at 100 gigabits per second (Gbps) utilizing Wavelength Division Multiplexing (WDM) provides an opportunity for POET to leverage its InP facility and production capability in Singapore, its unique and proprietary dielectric technology, and its wafer-level packaging expertise into a newly announced Hybrid Dielectric Photonics platform strategy;
POET has demonstrated the functionality of its proprietary dielectric waveguides for multiplexing and de-multiplexing light signals, allowing for the development of an optical engine suitable for transceivers operating at 100 gigabits per second (Gbps); engineering samples of these devices are planned to be delivered to customers this quarter;
POET is strategically allocating resources to capitalize on the rapidly growing InP Photonics market, which is estimated to grow to an $11 billion addressable market by 2021, in order to increase ROI, accelerate time to revenue and deliver shareholder value;”
July Stock Challenge Update
A handful of members selected POET for July’s Stock Challenge and all moved higher Friday. While long-time member ‘powBYpoet‘ selected POET and Sphere 3D – topping all Challengers in July – he has yet to crack the Top 20. His return combined for a 12.64% boost Friday. ‘Zeez19‘ put up the second best daily return Friday with a 12.28%.
Finally, ‘kknowles3614‘s put up a 11.80% return. In fact, despite POET’s recent recovery, none of these members have reached the Top 20. Finally, past Stock Challenge Champ ‘glohuis’ is enjoying a 5% cushion currently. Consequently, the long-time member is leading all Challengers with a 27.34% return in July.