Is Clean Diesel Technology here to stay?
About a month ago I stumbled upon a stock that was showing some price momentum so I added it to my watch list. The company, Clean Diesel Technologies, Inc. made a big move today, up more than 90% from yesterday's close, on news that its Heavy Duty Diesel Systems division has received nearly $2.0 million in orders for its verified (approved) emission reduction products. Acording to CEO Charles Call, "The orders that we have been anticipating to meet California's aggressive on-road diesel emissions standards have started to flow. This first wave is preliminary but it is the signal we have been waiting for. Ultimately, we believe that well over 100,000 trucks will have to comply with the regulations, largely between 2012 and 2014.'
This is in addition to news from about a week ago when the company announced an agreement with Tanaka Kikinzoku Kogyo Kabushiki Kaisha ("TKK"), Clean Diesel's joint venture partner in Asia Pacific, to provide catalyst engineering and support services to advance the deployment of Mixed Phase Catalyst (MPC®) emission control technology in China.
The stock is extremely volatile and has traded in a 52-week range of $0.65 to $44+ and with a market cap of less than $30M this is a highly speculative stock. But it sure seems that it has lots of upside from here.
Does anyone have any expertise in this area? I'm seriously considering jumping in with real money on this one.