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RONN Inc. (OTC: RONN) Stock Gains Momentum After The Latest Update

Pete Matthews

There are some companies that are embarking on a range of innovative initiatives, and one of those is RONN Inc. (OTC: RONN).  On Monday the company was in the news cycle after it announced a major new plan with regards to its operations in Canada. Ahead of the beginning of trading today, it might be a good time to look into it.

First Nations Canada Update

Yesterday the company hit the news wires after it announced that it was going to add Bitcoin mining as an option to First Nations Canada. The company noted that the overarching vision was to bring about a smooth integration of cheap hydrogen-based power and Bitcoin mining so as to bring about a paradigm shift in power economics. However, in addition to that, the move will also lead to a reduction in operational costs and lead to greater empowerment of First Nations thanks to its partnership with RONN.

Further Information

The company also announced yesterday that Canada was the ideal environment in which it could maximize its mining profits thanks to the reduction in costs owing to the cooler weather. It was further noted that the cost of electricity remained the biggest one in the case of mining. 

Technicals

+/- EMA(20)0.0005 (+0.00%)
+/- SMA(50)0.0004 (+25.00%)
+/- SMA(200)0.0022 (-77.27%)
5-Day Perf.-16.67%
1-Month Perf.–
3-Month Perf.-37.5%
6-Month Perf.-90.2%
YTD Perf.-16.67%
1-Year Perf.-96.12%
RSI(14)52.66
ATR(14)–
ADX(14)26.73

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.