A company we’ve been following closely has just bounced off of its 1 year low.
Eco Depot Inc. (OTCMKTS:ECDP) hit its 52 week low of $1.06 Monday, and Tuesday bounced 7 cents or 6.6% to $1.13. After closing on such a high note the stock could continue its momentum on Wednesday. This could be a very pivotal day for the stock.
There is reason to believe the stock is heading in the right direction. The company’s Bronya Climate Shield paint line that helps reduce energy costs up to 40% have made a lot of promising news recently.
The company is set to begin production of the paint in the 4th quarter, which is why 3rd quarter investing could be so profitable.
The production will occur at their brand new facility in Montreal, Canada. The facility, which is the company’s first, will be 4,200 square feet with a production of 2,700 gallons per day which works out to nearly $40 million in pre-tax revenue.
One reason ECDP could hit this revenue potential is the product launch will occur at the country’s largest hardware show; the North America National Hardware Show in Las Vegas Nevada from October 21st through to the 23rd. This is actually more of an international show featuring some of the largest names in hardware from Lowes to Home Depot among 2,800 Exhibitors with over 20,000 Participants that will be attending this year’s show that was canceled this spring on May 6th and last year due to the Covid -19 Pandemic.
Make sure you have ECDP on your watchlist.