Over the course of the past month or so, the MassRoots Inc (OTCMKTS:MSRT) stock has managed to emerge as one of the notable gainers and clocked gains of as much as 24% during the period.
Market Action:
On Monday, MSRT stock remains unchanged at $0.0620 with more than 1.53 million shares, compared to its average volume of 1.45 million shares. The stock has moved within a range of $0.0601 – 0.0641 after opening the trade at $0.0630.
Plan to Adopt New Corporate Name “Greenwave Technology Solutions, Inc.”
While there has not been any news about MassRoots in recent days, it might be a good idea to take a look at a development from October 12. The company announced at the time that it was planning to change its corporate name to Greenwave Technology Solutions Inc. MassRoots noted that it had decided to change its name after it had completed the acquisition of the company Empire Services Inc.
At the time, the company had also resealed a fresh logo and also stated that in the following days it was going to go live with a new website. In this regard, it is also necessary to point out that the company had stated that while it was true that the legal name was going to continue to be MassRoots, it was going to start using the name Greenwave Technology Solutions for all branding and marketing needs.
It seems that the plans of a name change came as a source of optimism for many investors and may have led to the rally in the MassRoots stock.
Key Quote
“This is a fresh start for the Company and under my leadership, we will be relentlessly focused on growing our revenues and improving our bottom line,” stated Danny Meeks, Chairman and Chief Executive Officer of Greenwave. “Steel is one of the world’s most recycled materials and over the past thirty years, the steel industry has been able to achieve significant reductions in energy and greenhouse gas intensity through recycling(1). We believe the Greenwave name emphasizes our focus on environmental technologies and commitment to constant forward progress.”
Traders Note
MSRT stock is trading above the 200-Day and 20-Day Moving averages of $0.0401 and $0.0575 respectively. Moreover, the stock is trading above the 20-Day moving average of $0.0486. The stock is up 38% in the past month.
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