As another trading week begins, it is time for investors to perhaps take a look into some of the stocks that moved strongly this past Friday and one of those is the Resgreen Group International (OTCMKTS:RGGI) stock.
Market Action
On Friday, RGGI stock gained 17.50% at $0.0234 with more than 518k shares, compared to its average volume of 718k shares. The stock has moved within a range of $0.0199 – 0.0234 after opening the trade at $0.0216.
Announces Commencement of Integrator Program
Last Friday the stock seemed to have come into considerable focus among investors and ended the day with gains of as much as 18% as investors piled on to it. There was no news about the company on Friday but last Wednesday, Resgreen had announced that the formal integrator programme that it had put in place with the Wolter Group LLC had been implemented.
After the implementation of the programme the Wolter Group reached an agreement with Resgreen to sing up as the first partner. It goes without saying that it was a major development for the mobile robot company and may have led to the strong rally in the stock last Friday.
Mark Bogaczyk, who is the General Manager of Automation at Wolter, spoke about the development as well. He stated that Wolter had concluded that the range of products from Resgreen could find considerable demand in a range of sectors and especially in the material handling space.
Key Quote
“The interest we received during our attendance of The Assembly Show in Rosemont, Illinois October 26th through the 28th in regards to our material handling systems has demonstrated a need for RGGI to implement our integrator network. We are pleased to be partnering with Wolter Group. Their extensive knowledge and experience in the material handling industry as distributors and integrators make them an ideal partner as RGGI continues to grow,” said Parsh Patel, CEO of Resgreen Group International, Inc.
Traders Note
RGGI stock is trading below the 20-Day and 50-Day Moving averages of $0.0259 and $0.0296 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0574. The stock is down 22% over the past month.
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