Stock may often move within a narrow range but that does not mean that it might not breakout eventually and hence, such stock could be followed especially if there is important news about the company.
The Tentech Holdings Ltd (NASDAQ:TANH) stock was moving in a range on Monday but at the same time it should be noted that the company made a major announcement with regards to its subsidiary company Shangchi Automobile Co Ltd. The company announced that Shangchi managed to deliver a total of 50 midibuses to one of its customers. The customer is focussed on the United Arab Emirates market.
The buses are known for providing the luxuries that one can find in a high end bus and in addition to that, it is fuel efficient as well. The Chief Executive Officer of Tantech Wangfeng Yan spoke about the development as well.
He stated that it was the biggest order that has been fulfilled by Shangchi till date. He went on to state that the coronavirus pandemic had come as a hammer blow for the company but since then Tantech has come a long way. Yan also stated that he was confident about the growth that is going to be generated by Tantech in the near to long term.