Deep Green Waste & Recycling Inc (OTCMKTS:DGWR) Stock Falls 36% in a Week: But Why?
Deep Green Waste & Recycling Inc. (OTCMKTS:DGWR) stock was in selling pressure last week with a fall of over 36%.
Market Action:
On Friday, DGWR stock lost 2.82% at $0.0190 with more than 1.59 million shares, compared to its average volume of 2.40 million shares. The stock has moved within a range of $0.0157 – 0.0223 after opening the trade at $0.0209.
Completes Acquisition of Lyell Environmental Services, Inc.
Waste, recycling and remediation services company for commercial customers, Deep Green Waste & Recycling, Inc, (OTCMKTS:DGWR) on October 22, 2021, announced completing acquisition ofLyell Environmental Services Inc, a quickly emerging environmental remediation, abatement and testing company located in Nashville, Tennessee.
Operating as a wholly owned subsidiary of the company and providing environmental testing and remediation services to residential and commercial clients in more than 200-mile radius around Nashville, Tennessee.
Lloyd Spencer, President and CEO of Deep Green Waste & Recycling, said that the acquisition of Lyell is a significant milestone in the company’s strategic plan as well as expanding its position on capitalising long-term growth trends in the industry.
Spencer added that Lyell’s addition to the Deep Green team in addition to its expertise, industry leadership as well as profitable business will be a good fit within the company’s focus on rapidly growing waste, recycling and environmental services markets.
Lyell is the first acquisition in a series of planned environmental services acquisitions for Deep Green insoutheastern United States.
Established environmental and ecological services company, Lyell Environmental Services Inc is located in Nashville, Tennessee.
Traders Note:
DGWR stock is trading below the 20-Day and 200-Day Moving averages of $0.0218 and $0.0264. The stock is up 53% in the past month.
