SMX announced on Wednesday the addition of latex and rubber glove tracing to its platform.
- SMX stated that it will expand its rubber-integrity platform to trace latex and rubber gloves from manufacturing through end-of-life.
- The company explained that it will embed its invisible molecular identity directly into glove materials during production.
- It will then use its technology to link each glove to a persistent, tamper-resistant digital record.
SMX (Security Matters) PLC (SMX) shares gained over 35% in Friday’s pre-market trade following the company’s announcement of the expansion of its industrial rubber traceability platform.
SMX announced on Wednesday the addition of latex and rubber glove tracing to its platform, targeting what it called one of the world's largest and most complex post-use rubber waste streams.
Retail sentiment on Stocktwits around the SMX stock trended in the ‘bearish’ territory. It was the third top trending ticker on the platform at the time of writing.
SMX’s Expansion
SMX stated that it will expand its rubber-integrity platform to trace latex and rubber gloves from manufacturing through end-of-life.
The company explained that it will embed its invisible molecular identity directly into glove materials during production. It will then use its technology to link each glove to a persistent, tamper-resistant digital record.
SMX states that this overcomes the challenge of other sorting methods, such as labeling or documentation, which can be lost, removed, or damaged throughout the lifecycle of gloves.
Addressing concerns about contamination, SMX said its tracing technology will help recyclers distinguish material that can be recovered from material that needs to be discarded.
SMX plans to begin working with glove manufacturers and participants in the healthcare and recycling industries to kick-start the adoption of its traceability platform.
Retail Optimistic
Following the announcement, retail users on Stocktwits expressed optimism about SMX’s prospects heading into the new year.
One bullish user suggested others to “hold on to it” instead of selling the stock and regretting it later.
Another user stated that the option for tax-loss harvesting is not available to short sellers, so the stock should trend upward.
SMX stock is down 99.7% over the past 12 months.
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