Corning Inc (GLW) Stock Dropped On Monday, Recently Developed A Protective Coating

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Corning Incorporated (GLW) stock rose a bit on Monday adding 0.91 percent to end the trading session at $36.63.

The technology company announced the development of an advanced coating that in two hours destroys more than 99 percent of bacteria and viruses. The company notices that even SARS-CoV-2 copes with its coverage.

The latest product by Corning was called Corning Guardiant. Paints and coatings containing Corning Guardian have been shown to kill more than 99.9 percent of viruses and bacteria, including the SARS-CoV-2 virus that causes COVID-19, according to test methods approved by the US environmental protection agency (EPA). Even after experiments simulating six years of service, the demonstrated antimicrobial effectiveness remained.

Corning collaborates with maker of paint and other coatings PPG Industries Inc. (PPG) to register its final products with the EPA. The antiviral paint substance PPG will be available under the name COPPER ARMOR, subject to EPA approval. The Corning Guardian solution remains successful in dry environments, unlike competing developments that can only be involved in wet conditions. That is, under normal circumstances, the coating is appropriate for use in public areas and needs no special treatment.

The technology has excellent market potential, and a wider range of consumers will draw attention to its launch during a pandemic. At the same time, even after the pandemic, the market for protective coatings is likely to remain high, as COVID-19 has already changed the approach to public space organization and raised protection standards in crowded areas.

With a market capitalization currently standing at $28.01 billion, Corning Incorporated (GLW) stock is up 11.37 percent over the quarter. The stock’s performance over the past six months remained +57.01 percent while extending the period to a one year, the gain is +26.22%. Since start of the year, the stock price is up 25.83 percent.

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