Here’s Why Astrotech (ASTC) Shares Explode Higher Today
It’s a very rewarding trading day for investors in Astrotech (NASDAQ:ASTC) with shares up over 200%, making the stock Wall Street’s bull of the day. Why the excitement? The innovative science and technology company announced this morning that its new explosives trace detector (ETD), the TRACER 1000, will enter the European Civil Aviation Conference (ECAC)’s Common Evaluation Process (CEP) for airport checkpoint screening of passengers and cargo in the coming months.
ECAC is the European regulator on aviation security, equivalent to the United States’ Transportation Security Administration (TSA). The CEP was established to provide standards for security equipment performance across ECAC’s 44 member nations.
“We are pleased to be taking this major step toward European Qualification of our TRACER 1000, and are confident that our system will meet and exceed CEP performance standards,” said Thomas B. Pickens III, CEO of 1st Detect and Astrotech.
ECAC certification represents a significant milestone toward selling to airports and governments internationally. Non-ECAC States with their own testing programs recognize the value of the CEP’s stringent testing procedures and performance standards.
“In addition to achieving TSA certification for passenger and cargo screening, both of which are on track, we look forward to having another major endorsement that serves to validate our system’s superior detection and security capabilities,” said Raj Mellacheruvu, COO of 1st Detect and Astrotech.
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