After-Hours Performance

Crown Electrokinetics Corp. (NASDAQ: CRKN) witnessed a significant drop in after-hours sessions today. The stock price was down $0.0362, marking a 5.48% drop. During this period, the trading volume hit 1.881 million shares, reflecting considerable investor activity in response to the recent company announcement.

Expansion of Work Scope with Existing Customer

CRKN., recently revealed it would be broadening its project with a current client in Idaho. This initiative includes horizontal directional drilling and fiber-to-the-home installations. Originally working with two drills, Crown plans to expand its operations to seven drills. The company is expecting additional growth as the year progresses.

Crown has been identified as the preferred contractor for all fiber-to-home projects with this customer. Additionally, the company will assist in installing fiber optics for school districts within the greater Boise area, solidifying its role as a key player in the region's fiber optic infrastructure.

Company Overview

Crown Electrokinetics Corp. operates through two main divisions: Fiber Optics and Electrokinetics Film. The Electrokinetics Film division specializes in smart glass technology, developing the Smart Window Insert based on its patented electrokinetic film. Meanwhile, the Fiber Optics division focuses on building underground fiber optic networks and other utility infrastructure projects.

Looking Ahead

The stock was in red in the after-hours trading, however, its recent expansion is a positive sign in the path of the company's growth in the fiber optics industry. Investors will nevertheless monitor the future developments of Crown Electrokinetics Corp. which might affect the company's market position and stock performance.