On Tuesday, the AmeriCrew Inc (OTCMKTS:ACRU) stock was trading within a range but it could in fact be the right time at which investors may consider taking a closer look at it and figure out if the stock can actually manage to go on an upward move any time soon. First and foremost it is important for investors to have a better idea about the company’s line of business before they can go deeper into it.
Trading Data
On Tuesday, ACRU stock ended flat at $1.99 with more than 300 shares traded, compared to a volume of 61 shares. The stock moved within a range of $1.9900 – 1.9900 after opening trading at $1.99.
About The Company
AmeriCrew is involved in providing specialty contracting services to those entities which are involved in the clean energy and telecom industries across the United States. Most of the workforce at AmeriCrew is put through a training program by the company and it mainly trains and hires military veterans by way of this program.
Although there was not much action in the AmeriCrew stock on Tuesday, it should be noted that the company did make a major announcement and that is something that investors could do well to look into.
AmeriCrew Inc. Announces Record Revenue In May
The company announced yesterday that in the month of May, its monthly revenues crossed the $1,300,000 mark for the first time. The rise in revenues was primarily the result of the expansion in its fiber division. The Chief Executive Officer of the company p Kelley Dunne that the fact that the Fiber division started working on its multiple-year assignment with the company Mainstream Fiber Networks in May was the reason behind the considerable growth in revenues.
However, there were other factors at play as well. Dunne noted that the wireless division at AmeriCrew continued to grow during the month of May since carriers had been working on upgrading the infrastructure. The Chief Operating Officer of the company Brian Weis spoke about the situation at AmeriCrew as well and noted that the company was focused on continuing with the current rate of growth throughout the course of 2022 and beyond that.
The announcement from the company was an important one yesterday and it is going to be interesting to see if the AmeriCrew stock can actually come into focus among investors today.
Key Quote
“As expected, our Fiber Division kicked off its multi-year assignment with Mainstream Fiber Networks adding to our growth in May,” noted P. Kelley Dunne, CEO of AmeriCrew.
Mr. Dunne added, “In addition, our wireless division continues to grow as our carriers continue to upgrade their infrastructure.”
