Fomo Corp (OTCMKTS:FOMC) stock closed lower on very high volume Tuesday after the news.
Major Trigger:
FOMO CORP.’S ENERGY INTELLIGENCE CENTER SIGNS CONTRACT FOR FACTORY LIGHTING AND INSTALLATION
Key Highlights:
- Fomo Corp signed a turnkey LED lighting contract to provide equipment and installation services valued at $260,000 for a 180,000 square foot manufacturing facility located in the Luzerne County, PA area. Discussions are currently underway with the owner of this project to provide additional energy management, and lighting equipment and installation services at four other manufacturing facility locations.
- In other related Company news, EIC has received a purchase order for heating, ventilation, and air conditioning (HVAC) energy optimization at four beverage distribution centers for a major U.S. brewery. The energy optimization services for the initial four distributors are valued at $35,442.
- The HVAC energy optimization, performance, and cost saving for the demonstrated performance of the four distributor locations will serve as a basis for possible EIC energy optimization services at other distributor locations nationwide for this brewery.
Key Quote:
“These updates are great examples of the progress and spokes on the wheel to help FOMO attract new customers, which in turn will provide value to our shareholders, stated Vik Grover, FOMO CORP. CEO. “As the U.S. is coming out of COVID-19, we see the overall sustainability and clean-technology market coming back to life, and our holdings are well positioned to deliver on proven, cost-effective solutions for safe and efficient buildings.”
Market Reaction
On Tuesday, FOMC stock closed lower by 13.43% to $0.0029 with more than 343.87 million shares traded hands for the session, compared to its average volume of 78.78 million shares.
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