Tiderock Companies Inc. (OTC:TDRK) Stock Soars 60%: What’s the Buzz?

There were a number of stocks that made strong upward moves on Thursday, and it is likely that many of those companies are going to come into focus among investors today. One such company was Tiderock Companies Inc. (OTC:TDRK), which saw its stock make a remarkable move and ended up with gains of as much as 60% for the day.

Before investors think about tracking the company, it may be a good idea to actually take a closer look at the announcement made by the company yesterday. The company, which is involved in renewable energy development and real estate, was in focus yesterday after it revealed that it had reduced the authorized share count to only 150 million from as much as 1.5 billion. In the news release, the company called the decision ‘momentous’.

The company noted that it was a strategic move that had been largely brought about by the feedback that it had received from its shareholders, the investment community, and the joint venture collaborators. In the news release, it was also pointed out by Tiderock Companies that the move was also a demonstration of the fact that the company was focused on boosting shareholder value and protecting the interests of the shareholders.

The company called it a transformative measure that was geared towards boosting shareholder confidence. The move had been meticulously planned by the company following a thorough evaluation of its business plan for 2024. The company, led by its Chief Executive Officer, Thomas Fore, came to the conclusion that preserving shareholder value was of significant importance and hence decided to go for a considerable reduction in its authorized shares.

The Chief Executive Officer of the company, Thomas Fore, spoke about the move as well. He revealed that, in anticipation of the trajectory of business operations in the coming year, it became necessary for the company to make a strategic move to protect shareholder value. Additionally, such a measure was also supported by the company’s imminent renewable energy joint venture collaborators. The value enhancement provided to the company’s shareholders through the radical move was welcomed by investors and led to a remarkable rally yesterday.

On July 18, the company provided significant new information about its new joint venture. The company revealed at the time that its joint venture partner had been recognizing revenues at an annualized rate of $30 million a year at the time. Additionally, it was also noted that the JV partner had also been recording a strong growth rate of as much as 12% a month at that time.

As per the provisions of the joint venture agreement between the two parties, the new client contracts would all be owned by the National Distribution Center. At the time, the company also revealed that Tiderock Companies would have a 55% stake in the joint venture. The new joint venture partners had been involved in the solar sales space for more than a decade, and recently, they realized that the management of the installation process was necessary too.