MassRoots Inc (OTCMKTS:MSRT) continues to see upward momentum and is trading higher in the opening session on Monday. The stock has soared 185% over the past month.
Market Action
In the opening session, MSRT stock is up by 6.54% at $0.0850. The stock has traded 623K shares compared to its average volume of 4.86 million shares. The stock opened at $0.0810 and moved in a range of $0.0795 – 0.0857.
Major Trigger:
MassRoots, Through its Planned Acquisition of Empire Services, Inc., Poised to Benefit from Rising Metal Markets and Inflationary Pressures
Key Highlights:
- reported that it expects Empire Services, Inc. (“Empire”) to realize significant revenue growth and higher profit margins as a result of rising metal prices and inflationary pressures. Further, Empire plans to aggressively expand its footprint over the coming weeks through the roll-up of independent, profitable metal recycling facilities.
- MassRoots recently entered into a Letter of Intent to acquire Empire, which is expected to result in MassRoots generating significant revenues and positive cashflows from operations. Upon closing of the Empire acquisition, the Company intends to apply to uplist to the Nasdaq Capital Market or the NYSE American Market, which MassRoots believes would result in a significant increase in visibility, liquidity, and institutional interest for its stock.
Isaac Dietrich, Chief Executive Officer of MassRoots added, “We have implemented several technology solutions that have already increased metal volumes and operating efficiencies at Empire’s existing facilities.
These include a cloud-based ERP system, a corporate website with live metal prices, and in the very near future, an instant online quoting system for people looking to sell their junk cars. The planned closing of the Empire acquisition is proceeding on schedule and I believe will be transformative for the more than 30,000 loyal and supportive MassRoots shareholders.”
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