Although it is true that the markets have been quite volatile in recent days, there are certain stocks which have emerged as notable exceptions and yesterday it was the Resgreen Group International (OTCMKTS:RGGI) stock which ended up with gains of as much as 6%.
Trading Data
On Wednesday, RGGI stock moved up 5.98% to $0.0195 with more than 488k shares, compared to its average volume of 637K shares. The stock moved within a range of $0.0181 – 0.0230 after opening trading at $0.0220.
Resgreen Group Announces Purchase Order from Tier 1 Automotive Supplier
In order to get a better idea about the rally seen in the stock yesterday, it may be a good time for investors to take a look at the announcement from the company yesterday. Resgreen announced yesterday that it had received a new purchase order from its Tier 1 Automotive Supplier that is based out of Columbus, Ohio.
The purchase order in question for a license for BotWay, which is a signature fleet management software from Resgreen. It is an advanced monitoring and traffic control software which helps in controlling the entirety of AVG/AMR/AGC/Smart Peripherals.
The receipt of a new order is almost always a boost for any company and hence, it was perhaps no surprise that the Resgreen stock experienced a strong rally on Wednesday. At this point it is going to be interesting to see if the stock can actually continue to hold on to its momentum and add to the gains.
Key Quote
“Even though the current supply chain issues prevented us from bidding the hardware robotics side of this order, the Tier 1 supplier approved our BotWay traffic control software. They deemed this software to be a critical component of their operations. This is an important validation and demonstration of the vision and planning capabilities of our engineering and software team. I am very proud of the team we have assembled and the prospects for the future of RGGI look fantastic,” stated Parsh Patel, CEO of Resgreen Group International, Inc.
Technical Data
RGGI stock is trading above the 20-Day and 50-Day Moving averages of $0.0194 and $0.0192 respectively. However, the stock is trading below the 200-Day moving average of $0.0286.
