It was not a particularly great day in the markets for ResGreen Group (OTCMKTS:RGGI) shareholders on Wednesday as the company’s stock suffered from a fairly strong selloff and went down by as much as 7% for the day. If a stock falls by such a degree then it may be a good time for investors to perhaps work out if the decline is going to continue in the near term or if there is going to be a quick recovery.
At the end of the day, it is important for investors to keep in mind that a fall in a stock price can often prove to be an opportunity as well, and hence, it may be a good idea to take a closer look at ResGreen Group this morning following the decline in the stock yesterday.
Trading Data
On Wednesday, RGGI stock slid 7.34% to $0.0202 with 853K shares, compared to its average volume of 239K shares. The stock moved within a range of $0.0182 – 0.0202 after opening trade at $0.0191.
About The Company
First and foremost, it is important for investors to consider taking a look at the nature of the company and how it works before getting into the latest developments. ResGreen Group is a highly innovative company that is involved in the development of Automatic Guided Vehicles, Artificial Intelligence Robotics, and Autonomous Mobile Robots. The company boasts of a highly skilled and capable team of engineers who possess years of extensive experience in the fields of robotics and materials handling. This has helped ResGreen Group in building up an enviable portfolio of intellectual property. However, that is not all. The company is also involved in providing consulting services to its clients in the fields of material handling assessment, workflow analysis and operational oversight among others. The company generally uses management systems, artificial intelligence and technology to accomplish this.
New Intranet- and Cloud-based Monitoring and Management Interface Enhances ResGreen’s BotWay Software
The company came into focus yesterday after it made an announcement with regards to the latest feature that it added to its BotWay software system, which is an industry leader in its category. The new feature that has been added is an intranet and cloud-powered monitoring and management user interface.
The new feature is going to allow a BotWay user to access the software remotely by way of any desktop computer or a mobile device. While it cannot be denied that the latest update is a significant one from ResGreen Group, it did not seem to lead to any kind of optimism among investors and in fact, led to a selloff in the stock. It is going to be interesting to see if there is a change in sentiments with regards to the stock over the course of the coming days or not.
Parsh Patel, who is the Chief Executive Officer of ResGreen Group, spoke about the latest development as well. He noted that the BotWay software is the most important product that the company possesses and it remains the backbone of the technologies that the company has interests in. He went on to note that the latest measure is part of the company’s initiative to make automation easily available and cost-effective for all its customers.
Technical Data
RGGI stock is trading above the 20-Day and 50-Day Moving averages of $0.0200 and $0.0189 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0200. The company has a total market capitalization of $20.2K. The stock is up 22% over the past month.
