Renavotio Inc. (OTCMKTS:RIII) was up 13%. The company focuses on 5G, utility construction, ISP, IoT, water management tech, medical protective equipment, and related sectors, and the passage of the infrastructure bill opens opportunities for Renavotio.
Trading Data
On Monday, RIII stock surged 13.27% to $0.0350 with more than 14.19 million, compared to its average volume of 1.33 million shares. The stock has moved within a range of $0.0309 – 0.0535 after opening the trade at $0.0350.
Looks To New Opportunities With Infrastructure Bill Passage
The $1 trillion-dollar infrastructure bill received Senate approval on August 10 and the House of Representatives on November 5, which opens opportunities for the company.There are two significant takeaways for Renavotio, including ensuring Americans access high-speed internet and investing in wastewater and clean drinking water infrastructure.
The infrastructure bill allocated $55 billion for clean drinking water infrastructure development, including new water distribution and sewer systems. Also, $65 billion has been set aside to ensure Americans receive fast, reliable internet. The company’s main expansion via acquisitions and organically is in rural areas of southern Kansas, eastern Missouri, Northern Oklahoma, New Mexico, Northern Texas, and Colorado.These are rural areas likely to benefit considerably from the allocation. So in the coming months, investors should watch RIII.
Key Quote
Billy Robinson, Renavotio’s Chief Executive Officer, commented: “With the passage of the infrastructure bill, Renavotio has been laying the groundwork for growing both organically and with e its plan to hire management with engineering and Telcom experience, upgrade equipment, and continue to expand our operating facilities. This will allow us to seek out new bidding opportunities on infrastructure and Telcom in our regional footprint. with the plan to bring on new skilled management, upgrade equipment and to expand our operating facilities. This will allow us to seek out new bidding opportunities on infrastructure in our regional footprint. With the completion of our test program in fiber optic installation, we are now focused on the desire and need of federal and state governments to expand rural fiber optic and 5G for rural internet service providers, or (“ISP”). Both the existing grant and funding programs and commercial opportunities present an untapped revenue stream for the Company.”
Technical Data
RIII stock is trading above the 20-Day and 50-Day Moving averages of $0.0378 and $0.0405 respectively. However, the stock is trading below 200-Day moving average of $0.0543. The stock is down 31% in the past month.
