808 Renewable Energy Corporation (OTCMKTS:RNWR) Stock Moves Up 5% In a Week

If you are currently on the lookout for stocks which may have made a strong move in the past week then it might be a good time to perhaps take a look at the 808 Renewable Energy Corporation (OTCMKTS:RNWR) stock.

Market Action

On Tuesday, RNWR stock  ended flat at $0.1950 with more than 3k shares, compared to its average volume of 17k shares. The stock has moved within a range of $0.1510 – 0.1950after opening the trade at $0.17.

New Distributor for North and South Carolina

In the past week, the stock attracted considerable attention and ended up with gains of as much as 5%. As it happens, the company was in the news yesterday after it made an announcement with regards to the recruitment of a new distributor for its territories located in the states of North Carolina and South Carolina.

The President and Chief Executive Officer of the company David Chen spoke about the latest development as well. He stated that everyone at the company was excited about the prospect of having a new distributor who could grow the business of 808 Renewable Energy in those two states.

He went on to add that those two states have displayed considerable potential with regards to the possibility of growing into successful markets for the products that are offered by the company. At this point, it could be a good move for investors to add the stock to their watch lists. 

Key Quote

Remy Breton, Vice President SilverLight Electric Vehicle commented,” North Carolina and South Carolina are major tourism states just like Florida, so there is a huge market for daily rental operation. According to the South Carolina Department of Parks, Recreation & Tourism, South Carolina tourism is now a record $ 23.8 billion industry, supporting one in every 10 jobs and generating $ 1.8 billion in state and local taxes. On the other hand, North Carolina also has a very strong tourism industry as well, it has nearly 40 million tourists visiting each year, its tourism industry hit a record high of $ 25.3 billion in 2018, according to Governor Roy Cooper. “

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