Ambient (ABTG.OB) announced it has launched its Open Smart Grid Communications Architecture which it developed jointly with Verizon Wireless, which is an open communications network for utilities deploying smart grid programs. Ambient’s newest smart grid node model, the X-3100, was recently certified by Verizon Wireless for its 3G network. 

With a market cap of more than $120M and sales of less than $1M, it will be quite a awhile (best case) until the valuation can be justified, but the news is a significant milestone to Ambient’s business and will likely drive the stock in the near term nonetheless.

As expected, the stock had a volume breakout yesterday, trading more than 6 million shares, and the stock moved up to $0.20 but couldn’t hold, closing back at $0.17. So apparently, we aren’t the only folks that thinks the stock is probably way over valued at current levels because sellers were lining up to sell into strength.

We would probably be closing out our positions today.