Following a major new announcement from TGI Solar Power Group Inc (OTCMKTS:TSPG) on Wednesday the company’s stock took a dive and ended up with a decline of 5% for the day.
Trading Data
On Wednesday, TSPG stock fell 4.76% to $0.0040 with 1.89 million shares, compared to volume of 2.40 million shares. The stock moved within a range of $0.0034 – 0.0048 after opening trade at $0.0034.
TGI Shelly, TEAL Chimie & Energie Collaborate to Advance Green Ammonia.
The company announced that its new management along with its board of directors managed to strike up a partnership with the firm TEAL Chimie&Energie Inc. Although the stock suffered from a selloff, it should be noted that the partnership could well prove to be a major one for TGI Solar Power, since it would mark the company’s entry into the green energy sector. The latest move is consistent with the new direction that has been chosen by the management of the company to go for strategic moves which would bring about long term growth, digital quotient, and correlation.
The green energy sector is a sector which could help the company in driving growth and then unlock value for shareholders. On the other hand, it should also be noted that the new management at the company is also looking to expanding the base of investors through acquisitions which could create vertically integrated business model. It is going to be interesting to see if the stock can manage to bounce back today.
