AwesomeStocks Donât want emails from us anymore? Click [here]( to unsubscribe. Hello! New Alert: Greenwave Technology Solutions, Inc. (NASDAQ: GWAV) GWAV is our brand new NASDAQ high volatility alert. Looking at the chart, GWAV could be positioning for a major bounce higher. GWAV has a 50 day moving average of 0.87, more than 24% above yesterdayâs close. Furthermore, GWAV has a RSI of 42, suggesting increased upside potential. Some of our biggest alerts have seen a similar chart pattern. GWAV, âthrough its wholly owned subsidiary Empire Services, Inc. ("Empire"), is a leading operator of 13 metal recycling facilities in Virginia, North Carolina, and Ohioâ. The Company's ârecycling facilities collect, classify, and process raw scrap metal (ferrous and nonferrous)â. GWAV implements âseveral unique technologies to increase metal processing volumes and operating efficiencies, including a downstream recovery system and cloud-based ERP systemâ. Steel is âone of the world's most recycled products with the ability to be re-melted and re-cast numerous timesâ. As the company further explains: âRecycling steel provides key environmental benefits over virgin metals, including reduced energy use, lower CO2 emissions, lower waste, and conserving natural resources.â GWAVâs âcustomers include large corporations, industrial manufacturers, retail customers, and government organizationsâ. Furthermore, âThe Company plans to aggressively expand its footprint of locations by acquiring independent, profitable scrap yards in the coming months.â As the company recently explained in its August âShareholder Updateâ: "We are at an inflection point in Greenwave's growth trajectory. With the downstream processing system now online and new infrastructure set to come online in the coming weeks, we believe Greenwave's revenue growth will accelerate going into 2024, in addition to increasing profit margins," stated Danny Meeks, Chief Executive Officer of Greenwave. "We are incredibly grateful for the trust and support of Greenwave's shareholders. We are continuing to execute on our strategic growth initiatives and look forward to reporting back on our progress." GWAV has announced multiple accomplishments recently that could be catalysts for growth. In August, the company announced: âGreenwave Technology Solutions Reports Third Highest Quarterly Revenues in Company Historyâ Here are the highlights from this press release: - âGreenwave generated $1.23 million in positive cashflows from operations during the six months ended June 30, 2023, a new record for the Companyâ
- âCompany generated $18.46 million in revenues for the six months ended June 30, 2023, the second highest in the Company's historyâ
- âSubsequent to the close of the quarter, Greenwave closed a private placement for proceeds of $15 million, paying off all outstanding factoring advances and reducing its equipment financing debt by $2 millionâ Here are some of the companyâs comments from this press release: "Greenwave is continuing to position itself as one of the most robust metal recycling companies on the east coast, suppling steel and other recycled metals to some of the nation's leading steel mills and foundries," stated Danny Meeks, Chairman and CEO of Greenwave. "We believe there will continue to be aggressive consolidation in this industry, as demonstrated by yesterday's buyout offer of U.S. Steel. We continue to execute on our strategic business objective â expanding our operations, increasing volumes, and growing our revenues â and believe Greenwave is one of the most unique and compelling companies in the metal recycling industry." In addition, the company also announced: âGreenwave Technology Solutions' Copper Extraction System Expected to Commence Operations in September 2023â As the company further explains: âIn July 2023, Greenwave commenced operation of a downstream processing system at its Kelford, NC facility, enabling the Company to recover millimeter-minus pieces of metal from Greenwave's automotive shred residue or "fluff" as it is known in the industry. The Orbcon PTV balling mill is the final component of the downstream processing system â focused on extracting copper from the shred residue â and is expected to result in the downstream processing system generating more than $1 million per month in revenue by the end of 2023, with profit margins in excess of 80%.â Furthermore: âThe Company has completed the installation of its second automotive shredder at its Carrollton facility to process cars, household appliances, and industrial products. The shredder is expected to commence operation as soon as the electrical infrastructure is completed this quarter, and will double the Company's ferrous metal processing capacity. By selling its ferrous metal as shredded, rather than unshredded, Greenwave generates approximately 33% more revenue with profit margins in excess of 60%.â Here are some of the companyâs comments from this press release: "Greenwave has invested more than $15 million in capital expenditures over the past 18 months, which are expected to double the Company's ferrous metal processing capacity, grow our annual revenues to over $50 million, and significantly expand our profit margins," stated Greenwave Chairman and Chief Executive Officer Danny Meeks. "We are at an inflection point in Greenwave's growth trajectory and the Company is now positioned to significantly expand its footprint of metal recycling facilities in the coming quarters. We're grateful to Greenwave's shareholders for their early and continued support â we look forward to reporting back on our progress." In addition, the company also announced: âGreenwave Technology Solutions Launches Scrap App with AI Pricing Engine in Developmentâ Here are the highlights from this press release: - âGreenwave is developing an AI pricing engine for junk cars to optimize margins and plans to utilize its proprietary transaction data to train a large language model (LLM)â
- âGreenwave intends to develop Scrap App into the leading technology platform for the $41.4 billion scrap metal industryâ
- âThe Company plans to expand Scrap App's functionality to provide quotes for metal from construction and demolition projects, list nearby scrap yards with their real-time prices, and building a points-based rewards systemâ But thatâs not all⦠On Tuesday, the company announced: âGreenwave Technology Solutions Announces its Shear Baler is Now Fully Operational at its Cleveland Facilityâ As the company further explains: âThe state-of-the-art equipment is expected to significantly expand the facility's metal recycling production capacity, enabling it to significantly increase its revenues. Shear balers are highly sophisticated processing equipment within the industry, designed for efficiently shearing car bodies and heavy metals.â Here are some of the companyâs comments from this press release: "With access to an adjacent railroad to easily transport our products to nearby steel mills, we expect our Cleveland facility to be a significant contributor to Greenwave's revenues in the coming quarters," stated Greenwave Chief Executive Officer Danny Meeks. "We believe our Cleveland facility has the potential to be one of our highest volume and most profitable facilities. We're grateful to our shareholders for their continued support and look forward to keeping investors updated on our progress." GWAV has multiple potential catalysts in its favor to experience high growth. Make sure to do your own due diligence. Sources: [PR1]( [PR2]( [PR3]( [PR4]( [PR5]( [Website]( [Chart]( Happy Trading! 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