ResGreen Group International (OTCMKTS:RGGI) Stock Sees Selling Pressure: Here is Why

The next generation mobile robot and software products firm ResGreen Group International Inc (OTCMKTS:RGGI) is one of the companies which may well be worth tracking at this point.

Trading Data

On Wednesday, RGGI stock slumped 14.29% to $0.0150 with more than 97.10K shares, compared to its average volume of 57.86K shares. The stock moved within a range of $0.0150 – 0.0185 after opening trade at $0.0179.

The company had come into focus yesterday after it introduced bidirectional BigBuddy, a new product. The product in question is supposed to be one of the more robust AGVs which would deploy magnetic tape for the purpose of moving loads totalling as much as 5000 pounds. Parsh Patel, the Chief Executive Officer of ResGreen Group International noted that the new product would help in greatly expanding the portfolio of AMRs and AGVs that the company has on offer due to its full-reversing capabilities.

He went on to add that the some of the features of the product include brushless motors and dual drive, which provide a higher torque when compared to brushed motors. That, in turn, would lead to stronger performance, higher horse power and better heat dissipation. The product had been built by the company for the purpose of not only serving major industries but also for warehouses, which often need to move massive loads. The product is equipped with two independent motors.