The big spike was a combination of TWO of things h
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Posted On: 01/30/2024 10:47:46 AM
The big spike was a combination of TWO of things happening at the same time.
The first was the OTC environment at the time . There was a lot of money flowing into the OTC market, A combination of the Game Stop phenomenon showcasing great wealth being made very quickly n the market and the extra expendable dollars average Americans had due to the additional 600 dollars the government was giving out during COVID.
The second was around the same time, the RI-DEM issued a letter of "intent to approve" SNPW project Medrecycler-RI. FOMO kicked in and with plenty of money available in the OTC the stock rocketed in days from 0.002 to a high of 34.9. The stock traded back and forth in the teens and twenties for a few months until it became obvious that there was a strong public and Political opposition.building against the project.
Eventually the public pressure caused the politicians to write a NEW LAW prohibiting high heat facilities in certain area resulting in the RI-DEM issuing a denial of the project killing the project.
Since then the stock has retracted to pre run levels having slight up ticks along the way with the announcement of the FoxEss , PT.Solar Tech ,Marine Battery, Property Contract,to build a US solar manufacturing facility, Alabama incentives and GEP agreements but due to the long delays and their lack to produce revenue to date the stock price is where it is today.
The first was the OTC environment at the time . There was a lot of money flowing into the OTC market, A combination of the Game Stop phenomenon showcasing great wealth being made very quickly n the market and the extra expendable dollars average Americans had due to the additional 600 dollars the government was giving out during COVID.
The second was around the same time, the RI-DEM issued a letter of "intent to approve" SNPW project Medrecycler-RI. FOMO kicked in and with plenty of money available in the OTC the stock rocketed in days from 0.002 to a high of 34.9. The stock traded back and forth in the teens and twenties for a few months until it became obvious that there was a strong public and Political opposition.building against the project.
Eventually the public pressure caused the politicians to write a NEW LAW prohibiting high heat facilities in certain area resulting in the RI-DEM issuing a denial of the project killing the project.
Since then the stock has retracted to pre run levels having slight up ticks along the way with the announcement of the FoxEss , PT.Solar Tech ,Marine Battery, Property Contract,to build a US solar manufacturing facility, Alabama incentives and GEP agreements but due to the long delays and their lack to produce revenue to date the stock price is where it is today.
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