DENVER, Colo., November 26, 2019- (24/7MarketNews via COMTEX) National and Venture Market News for November 26, 2019.
The Dow, Nasdaq, and the S&P 500, continue to flirt with new highs, on this abbreviated trading week, after reports of U.S.-China trade progress.
Alibaba (NYSE:BBY) raised over $11.3 billion, which may reach nearly $13 billion, if the over-allotment option is exercised, from its secondary listing, in Hong Kong, easily outpacing the approximately $8 billion that Uber (NYSE:UBER) raised in its May IPO. However, Saudi Aramco (ARMCO), which is likely to list in December, is projected to dwarf both when it goes live.
Kraig Labs’ scale-up of its first-of-its-kind superfiber production program on target
Kraig Biocraft Laboratories’ (OTCQB: KBLB), the leading developer of spider silk based fibers, CEO provided a commercialization update, for the first-of-its-kind superfibers, The focus was on “creating and maintaining long-term shareholder value.” Kraig Labs is preparing to expand its footprint and deliver its largest ever commercial production of spider silk, as the Company will deliver the first shipment of finished silk from its Vietnamese factory, while it’s, simultaneously, expanding production capacity.
As Kraig Labs prepares to fulfill material deliveries, in 2020, to numerous end target markets, it is also looking to graduate from the OTC Markets Venture Exchange to a national exchange, with its uplisting process “well underway, with several key pieces of this process complete.”
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