ASX stock of the day: Advance Nanotek (ASX:ANO) shares rocket 7%

The Advance Nanotek Ltd (ASX: ANO) share price is on fire today, rocketing 7.44% at the time of writing to $4.33. Advance Nanotek shares closed at $4.03 yesterday, but opened at $4.10 this morning before surging as high as $4.50 in early morning trading (up almost 12%).

Even though the company’s share price has cooled slightly since then, it’s still a hefty move upwards. Especially if you consider this company was asking $3.40 per share as recently as 15 February. That means Advance Nanotek is up close to 30% in just under a month.

So what is this strangely-named ASX company? And why are its shares enjoying their day in the sun…