Home > News > U.S. IPOs' Slide, Nanotech's Slump, Citi's Offer: David Wilson
March 13th, 2007
U.S. IPOs' Slide, Nanotech's Slump, Citi's Offer: David Wilson
Nanotechnology companies were all the rage in the U.S. stock market three years ago. The idea of working with particles smaller than 100 nanometers, or one 10-millionth of a meter, was enough to draw investors. Now it takes backing from the likes of Lockheed Martin Corp., the world's largest defense company, and AES Corp., a power producer, to get them excited even for a day.
Shares of Lumera Corp. surged 24 percent yesterday after the Bothell, Washington-based company signed an agreement to provide electro-optic materials, used in electronic equipment, to Lockheed Martin. Terms weren't disclosed.
The announcement was made a week after Altair Nanotechnologies Inc., a Reno, Nevada-based provider of nanotechnology for batteries and other products, said AES purchased a 1.5 percent stake for $3 million.
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