Shares in First Graphene (ASX:FGR) are on a wild ride today

This comes after earlier today, the graphene company released a white paper.

| More on:
Scared looking people on a rollercoaster ride representing the volatile Mineral Resources share price in 2022

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Today's trading session has been a wild ride for the First Graphene Ltd (ASX: FGR) share price.

Shares in the company dumped nearly 9% earlier today. After opening at 29 cents, the First Graphene share price hit an intraday low of 26.5 cents.

At the time of writing, shares in First Graphene have recovered to be less than 2% lower for the day.

Lets take a look at what's been moving the First Graphene share price.

First Graphene releases whitepaper

Earlier today, First Graphene released a whitepaper on its patented Hydrodynamic Cavitation Process.

According to the company, the report confirmed the technology's ability to convert petroleum feedstocks into products for clean energy storage and generation.

First Graphene's research team successfully demonstrated that the novel cavitation technology could efficiently produce graphite materials in a single step process. According to the whitepaper, the only by-product of the process was "green" hydrogen.

First Graphene noted that high purity graphite is in demand for use in the production of battery anodes. The company predicts strong growth and highlighted the potential to evolve production to a commercial scale.

First Graphene signs distribution deal

In addition to today's announcement, First Graphene also announced a distribution agreement yesterday.

The agreement will allow Auckland-based company GtM Action to exclusively distribute First Graphene's PureGRAPH products. GtM Action will also have the right to develop commercial opportunities for graphene technology.

According to First Graphene, the partnership with GtM Action is focused on extending the company's sales reach and the awareness of graphene technology.

In addition to developing commercial opportunities in New Zealand, the company also aims to expose its PureGRAPH product to the concrete industry globally.

More on First Graphene

First Graphene is a supplier of high-performing, graphene products. The company has a robust manufacturing platform based on the supply of high-purity raw materials.

First Graphene recently provided an update on the commercial use of its flagship PureGRAPH product line.

At the time of writing, shares in First Graphene are slightly lower for the day and relatively flat for 2021.

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »

Father in the ocean with his daughters, symbolising passive income.
Dividend Investing

I'd spend $8k on these ASX 200 shares today to target a $6,102 annual passive income

I believe these ASX 200 shares will continue rewarding passive income investors for years to come.

Read more »