AppSwarm Corp (OTCMKTS: SWRM) gained 4% on Friday after the software developer and mobile applications aggregators signed a memorandum of understanding with Renavotio Inc. (OTCMKTS: RIII).
Trading Data
On Friday, SWRM stock jumped 3.74% to $0.0111 with more than 18.83 million shares, compared to its average volume of 26.89 million shares. The stock has moved within a range of $0.0102 – 0.0115 after opening trade at $0.0107.
AppSwarm Announces Agreement with Renavotio, Inc. (OTCQB:RIII) for Infrastructure and Smart City Development
Renavotio is an infrastructure development firm focusing on KISP, 5G, and utility construction and operation opportunities. The company and Renavotio signed a binding MOU to consider collaborations focusing on new prospects in ISP, 5G, utility construction, Internet of Things (IoT), blockchain utilization, drone technology, smart city development, and aerospace-related industries.
CEO of AppSwarm Christopher Bailey said they are delighted to announce Renavotio as one of the new TulsaLabs partners. Bailey said that Renavotio’s years of infrastructure design, construction, and maintenance experience within Tulsa and surrounding areas makes them an ideal partner for evaluating creative options of building next-gen solutions for underserved rural areas and cities. In addition, Renavotio’s wholly-owned subsidiary Utility Management and Construction will work with AppSwarm to provide solutions to rural communities. Therefore, in the coming weeks, SWRM is worth watching.
Key Quote
Christopher Bailey, the CEO of AppSwarm, Corp. commented, “We are very excited to announce Renavotio as one of our new partners at TulsaLabs. Their years of experience in infrastructure design, maintenance, and construction within Tulsa and surrounding regions makes them a perfect partner in finding creative ways to help build out next generation solutions for cities and underserved rural areas.”
Technical Data
SWRM stock is trading below the 20-Day and 50-Day Moving averages of $0.0113 and $0.0124 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0137. The stock is down 10% in the past month.
