Renavotio Inc. (OTCMKTS:RIII) Stock Moves Up After Getting New Order
Renavotio Inc. (OTCMKTS:RIII) was up 13.5% after the company announced that it had received a purchase order from an overseas client for another $1.7 million of 100% Nitrile medical exam gloves from its Personal Protective Equipment on-hand inventory.
Market Stats
On Monday, CRYM stock moved down 3.07% at $0.30 with more than 126k shares, compared to its average volume of 461K shares. The stock has moved within a range of $0.2863 – 0.3400 after opening trading at $0.31.
Key News
The purchase order terms call for a $233,796 advance payment with the balance payable after issuing the Bill of Lading confirmation for the shipment. Once the company completes the sale, it will reduce its inventory and enhance its cash position. Most importantly, then the transaction is a massive opportunity for Renavotio to meet its scheduled infrastructure equipment acquisitions and expand the leadership team.
Also, the company is updating its bonds, licenses, and registration applications to leverage the various unique infrastructure bids anticipated in Q1 2022. CEO and Chairman Bill Robinsons stated that the sale allows the company to capitalize on its current inventory and offers capital required to make upgrades in infrastructure equipment and recruit important management personnel. So, RIII is worth watching in the coming weeks.
Key Quote
Billy Robinson, the CEO and Chairman of Renavotio commented, “This sale allows us to takes advantage of the inventory we have on hand and give us capital to make needed upgrades in our infrastructure equipment and hire key management personal to take advantage of the upcoming opportunities. This will put us in a better position to bid on potential infrastructure projects over the next 12 months.”
Traders Corner
RIII stock is below the 20-Day and 50-Day Moving averages of $0.0294 and $0384 respectively. The stock is trading in the neutral zone with the RSI at 39. The stock is down 15% in the past month.
