Among the many biotech companies to have gained momentum in recent days, it could be a good idea for investors to start tracking the Kraig Biocraft Laboratories Inc (OTC: KBLB) stock.
As a matter of fact, the stock has started off the day with a bang and gone up by as much as 6% so far. There has been no news regarding the company this morning so far, but it might be worth taking a look at development from back in January.
Kraig Biocraft, which is involved in developing and commercializing spider silk, announced in January that it established a joint venture with MtheMovement that is a constituent of the larger entity Kings Group of Companies and is involved in making luxury eco-friendly streetwear.
As per the provisions of the joint venture, silk fibers made by Kraig Biocraft are going to be sold under the brand SpydaSylk. It is a significant development for Kraig Biocraft and it remains to be seen if the stock can record further gains today.