AgriFORCE Growing Systems (NASDAQ: AGRI) stock spiked on Tuesday following the successful acquisition of a new patent in the United States.
The United States Patent and Trademark Office (USPTO) has granted Patent No. 11,895,958 to AgriFORCE Growing (AGRI). The patent is titled “Structures for Growing Plants (To Generate Micro-Environment Conditions).” This development marks a significant milestone for AgriFORCE, amplifying its foothold within the rapidly evolving agricultural technology landscape.
AgriForce Growing has disclosed that the newly acquired patent is associated with its proprietary FORCEGH+ facility design. This proprietary growing platform adheres to Good Manufacturing Practices standards, ensuring the optimal growth of crops.
Richard Wong, Chief Financial Officer of AgriForce Growing, said the following about the patent news:
“We see the benefits of adding another key U.S. patent around our FORCEGH+ technology, which significantly expands the scope of coverage and extends the timeline around our IP.”
AgriForce Growing (NASDAQ: AGRI) Stock Performance
AGRI stock surged 25.75% to close at $0.27 on Tuesday. The traders had exchanged hands with 119,065,419 (119.06 million) shares compared to the average daily trading volume of 1.39 million. The market capitalization of AGRI stock currently stands at $1.41 million. AGRI shares have declined by -42.73% year-to-date. There was a significant drop of -99.52% compared to the previous year. However, the stock saw a notable uptick of 7.60% over the past week.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
