Penny stock to keep an eye on.. GWAV
CEO also recently purchased 377k shares and owns 2M directly. They have a 17M float. The stock has had two splits over the last 4 years. Stocks like this are risky. But this one could be worth some chump change.Quote:
CHESAPEAKE, Va., Dec. 2, 2024 /PRNewswire/ Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company"), a leading operator of metal recycling facilities across Virginia, North Carolina, and Ohio, has taken a transformative step by acquiring the real estate for seven of its core facilities. This strategic iniative, facilitated through a purchase from Chief Executive Officer Danny Meeks, thereby reduces the Company's annual rent expenses by approximately $1.7 million, enhancing cashflow and positioning Greenwave for future growth and potential high-value strategic transactions.
Unmatched Competitive Edge in the Metal Recycling Industry,
Greenwave holds a portfolio of highly coveted operational licenses for its metal recycling facilities. These licenses, often protected by grandfathered municipal codes, provide significant barriers to entry for competitors in tightly regulated markets.
Key highlights include:For more information, please see the Company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on December 2, 2024.
- Norfolk, VA Facility: Positioned near the largest U.S. Naval Base, Greenwave's Norfolk facility benefits from a steady influx of prime scrap metal and holds one of the only Virginia Department of Motor Vehicles automotive recycler/demolisher licenses in the city.
- Virginia Beach, VA Facility: Greenwave operates the sole metal recycling facility in the state's largest city, Virginia Beach, strategically located near NAS Oceana and the region's thriving industrial core.
- Portsmouth, VA Facility: A cost-effective hub for domestic and international shipments due to its proximity to the Port of Virginia, the Company's license for its Portsmouth facility is shielded by grandfathered regulations.
About Greenwave One of the Mid Atlantic's Leading Metal Recyclers
As an operator of 13 metal recycling facilities, Greenwave Technology Solutions, Inc. supplies leading steel mills and industrial conglomerates with ferrous and non-ferrous metal. Because steel is one of the most commonly recycled materials worldwide, Greenwave supplies the raw metal utilized in critical infrastructure projects and U.S. warships vital to American national security interests. Headquartered in Chesapeake, VA, the Company has 167 employees with metal recycling operations across Virginia, North Carolina, and Ohio.
Also trying to confirm, but I think a bunch of debt was converted to shares this year (bullish), and they re-gained compliance with NASDAQ.Quote:
Greenwave to recycle 550,000 pounds of non-ferrous metal, estimated to increase Q4 2024 and Q1 2025 revenues by approximately $2 million.
Leveraging municipal, state, and federal agreements further establishes Greenwave's leadership in metal recycling
CHESAPEAKE, Va., Dec. 12, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. (Nasdaq: GWAV), a prominent leader in sustainable metal recycling across Virginia, North Carolina, and Ohio, announces it has been awarded an exclusive government contract for the recycling of 550,000 pounds of non-ferrous metal, estimated to boost Q4 2024 and Q1 2025 revenues by approximately $2 million.
Greenwave Technology Solutions, Inc.'s Footprint of Metal Recycling Facilities in Virginia and North Carolina as of December 11, 2024
Key Competitive Advantages:
- Extensive Footprint: Greenwave operates a footprint of 13 metal recycling facilities with significant market share, including three hubs with two focused on processing ferrous metal and one on non-ferrous metal.
- Barriers to Entry: A robust portfolio of operational licenses, safeguarded by municipal regulations, ensures limited competition in this highly regulated market.
- Real Estate Investment: The recent acquisition of key facility real estate in Carrollton, Virginia Beach, Toano, along with four others, fortifies Greenwave's position and prepares the Company for future strategic transactions.
Strategic Growth Trajectory:
Greenwave continues to prioritize government contracts as a cornerstone of its growth strategy, leveraging key relationships across municipal and federal sectors. Notable initiatives include:Located near Naval Station Norfolk, the world's largest naval base, and the Port of Virginia, Greenwave taps into an abundant supply of prime scrap metal from defense contractors, shipyards, and logistics operations.
- Partnerships for large-scale infrastructure projects such as the Hampton Roads Bridge Tunnel expansion.
- Agreements with numerous municipalities for recycling abandoned vehicles.
- Contracts supporting U.S. Federal Government operations.
Greenwave's Vision:
With unmatched market positioning, a robust contract pipeline, and proximity to key supply chains, Greenwave is poised for long-term, sustainable growth and value creation for its stakeholders.
