There were some stocks which managed to break their losing streaks on Wednesday and one of those was the WaterPure International Inc (OTCMKTS:WPUR) stock. After the company made a key announcement yesterday, the WaterPure stock came into sharp focus and jumped by as much as 8%.
Trading Data
On Wednesday, WPUR stock moved up 7.70% to $0.0210 with more than 6.53 million, compared to its average volume of 4.58 million shares. The stock has moved within a range of $0.0171 – 0.0244 after opening trade at $0.0188.
WPUR Builds Recurring Revenue Model To Serve $100B EV And Water Tech Sectors
However, at the same time, it should be kept in mind that over the past week the stock is still down by as much as 22%. On Wednesday, the company announced that it believed that a recurring revenue model was going to help WaterPure in not only generating revenue but also expanding it next year in 2022.
It was a major announcement from the company and one that seemed to have led to significant optimism among investors. The company announced that it was going to accomplish it by providing its services to the electric utilities space. WaterPure added that it was going to have a special focus on the electric vehicle charging and the water technology sectors. The two sectors have combined market valuation of as much as $100 billion at this point and hence, it is easy to see why the announcement led to the rally in the WaterPure stock yesterday.
