Nevada based company Eco Depot Inc (OTCMKTS:ECDP) came into significant focus on Wednesday and saw its stock soar by as much as 8% following a key announcement yesterday. In this situation, it may be a good idea for investors to consider taking a look at the announcement.
Trading Data
On Wednesday, ECDP stock gained 8.20% to $0.2445 with more than 163k shares, compared to its average volume of 49k shares. The stock moved within a range of $0.2154 – 0.2598 after opening trade at $0.2221.
ECO DEPOT project update on Bronya Climate Shield application for Energir, an energy company with 520,000 customers in Quebec and the northeastern United States
The company made an announcement with regards to a report that had been prepared about Bronya Climate Shield’s application in the air-conditioning and heating space. It should be noted that Bronya Canada Group has undertaken research and managed to develop cost effective as well as sustainable product for the air-conditioning and heating industry.
It will not only result in reduction of carbon emissions but also help in reducing costs to some extent. The project had started much earlier and it could prove to be a significant addition to the portfolio of products for Eco Depot. The company is specifically involved in the management, development and acquisition of eco-friendly consumer products and real estate. This is a product that can prove to be a welcome addition to its portfolio. It is now going to be interesting to see if the stock can manage to add to its gains through the rest of the week.
Technical Data
ECDP stock is above below 20-Day and 200-Day Moving averages of $0.31 and $0.39 respectively. Moreover, the stock is trading below the 50-Day moving average of $1.04.
