There have been a number of stocks which have clocked significant gains over the course of the past week and one of those is the CarbonMeta Technologies Inc (OTCMKTS:COWI) stock. In the past week, the stock has experienced significant action and managed to clock gains of as much as 33% as a consequence.
Trading Data
On Wednesday, COWI stock ended flat at $0.0004 with more than 55.53 million shares, compared to its average volume of 104.94 million shares. The stock has moved within a range of $0.0003 – 0.0004 after opening trade at $0.0004.
Saudi Investment Recycling Company and CarbonMeta Research Sign MoU To Commercialize Construction and Demolition Waste Recycling
Yesterday, the company was in the news once against after it emerged yesterday that its fully owned subsidiary company CarbonMeta Research Ltd had signed a Memorandum of Understanding with the Saudi Investment Recycling Company. As per the provisions of the Memorandum of Understanding the two entities are going to collaborate on commercialising demolition and construction waste.
CarbonMeta Research and Saudi Investment Recycling Company are going to collaborate for the development of manufacturing processes which are meant for the conversion of construction waste to source materials.
In addition to that, following the development of the processes, the two entities are also going to be involved in scaling up the process. It now remains to be seen if the latest development leads to any traction for the CarbonMeta Technologies stock over the rest of the week. It may be a good time to start tracking it.
Key Quote
“This collaboration will help advance a solution recycling construction and demolition waste recycling into products that will also mitigate climate change by capturing carbon dioxide (CO2),” said Ziyad Al-Shiha, CEO of Saudi Investment Recycling Company (SIRC). “Through this cooperation, SIRC and CarbonMeta Technologies can help advance construction waste management technologies and contribute to the development of a circular, sustainable economy.”
Technical Data
COWI stock is below the 20-Day and 50-Day Moving averages of $0.0004 and $0.0005 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0009. The stock is up 33% in the past week.
