Shooting green early, there is huge breaking news out of (Nasdaq: GWAV)'s campy this morning.

StockWireNews

(Nasdaq: GWAV) Comes Barreling Out Of Today's Opening Bell Up Approx. 15% On Breaking News!

June 18th

Greetings Readers,

Shooting green early, there is huge breaking news out of (Nasdaq: GWAV)'s camp this morning.

Up approximately 15% first thing, GWAV needs to be on breakout watch after dropping this announcement:

Greenwave Technology Solutions Completes Recapitalization

Company Strengthens Balance Sheet by $80.5Mn since February

Greenwave Attracts $45.3Mn in New Capital Infusions since March

Company's Business Plan Fully Funded with No Current Need for Additional Capital

CHESAPEAKE, Va., June 18, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, announced today the completion of its recapitalization, significantly strengthening its balance sheet.

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Read the full article here.

Remember, GWAV is a low float profile.

With fewer than 4Mn shares in its float, volatility could follow this major news today for GWAV.

If that happens, watch out!

Drop everything and get GWAV on your screen before it's too late!

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We're on low float alert watch early this week.

With low float profiles, volatility can make all the difference.

Typically, these types of profiles have so few shares available that when a potential catalyst like company news, whether good or bad, can lead to volatile movements in short periods of time.

And this breakout idea currently has fewer than 4Mn shares in its float.

That's a tiny float!

Besides the potential for volatility, this profile's technicals are signaling a healthy reversal/bounce could be right around the corner.

At the closing bell Monday, it had a 9-Day and 14-Day Relative Strength Index both below 35%.

Similarly, recognized at 4:00PM EST Monday, a 14-Day Raw Stochastic below 10% and a 14-Day Williams %R above 90% may suggest this Nasdaq profile to be severely undervalued from current levels.

Now, I don't want to get too far ahead of myself right now, but this is a former champ that has put up an approximate 189% short term run after being alerted previously.

Drop what you're doing and pull up: Greenwave Technology Solutions, Inc. (Nasdaq: GWAV).

As industries like construction, manufacturing, and electronics continue to expand, the demand for metals such as steel, aluminum, and copper will continue to grow.

Many primary metal resources are finite. In other words, these resources are becoming increasingly scarce.

Recycling allows these valuable materials to be reused, reducing the need for extensive mining and exploration, and contributing to resource conservation.

Not surprisingly, with increasing concerns about environmental sustainability, more consumers and businesses are opting for products made from recycled materials.

Metal recycling plants cater to this demand, creating a niche for themselves in eco-conscious markets.

When you add it all up, metal recycling plants stand to benefit from a combination of economic, environmental, and social factors that contribute to their prosperity in today's rapidly changing world.

Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc. ("Empire"), is a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio. At these facilities, Empire collects, classifies, and processes raw scrap metal (ferrous and nonferrous) for recycling.

Steel is one of the world's most recycled products with the ability to be re-melted and re-cast numerous times while offering significant economic and environmental benefits when compared with virgin materials.

Scrap Is The New Precious Metal - Greenwave Technology Solutions, Inc. Company Breakdown

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On September 30, 2021, Greenwave Technology Solutions, Inc. completed the acquisition of Empire Services, Inc. ("Empire"). Empire operates multiple metal recycling facilities situated in Virginia, North Carolina, and Ohio.

Subsequent to the acquisition of Empire, the organization transitioned into the scrap metal sector, encompassing the collection, classification, and processing of items like appliances, construction materials, end-of-life vehicles, boats, and industrial machinery.

These items are processed using techniques such as crushing, shearing, shredding, separating, and sorting, to yield smaller components. The recycled ferrous, nonferrous, and mixed metal pieces are categorized based on density and metal type before being sold. In instances involving scrap vehicles, catalytic converters, aluminum wheels, and batteries are extracted prior to shredding.

The company's systems are meticulously designed to optimize the value derived from metal production through this procedure.

The company operates an automotive shredder at the Kelford, North Carolina location and another automotive shredder at the Carrollton, Virginia location.

These shredders are designed to yield a denser product and, in tandem with advanced separation equipment, refine recycled ferrous metals, enhancing their value due to decreased processing requirements for recycled steel products. Collectively, this process reduces sizable metal objects, like automobile bodies, into fragments resembling the size of a baseball.

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The shredded fragments are subsequently transferred onto a conveyor belt beneath magnetized drums to segregate ferrous metals from mixed nonferrous metals and residual material.

This process yields uniform, high-quality ferrous scrap metal. Nonferrous metals and other materials undergo further processing via various mechanical systems to separate nonferrous metals from any residual material.

The remaining nonferrous metals are subject to additional processing to categorize the metal by type, grade, and quality before being marketed as products like zorba (primarily aluminum) and shredded insulated wire (mainly copper and aluminum).

Among the key priorities for the company is the establishment of a facility with access to rail or deep-water ports.

This strategic move would facilitate efficient transportation of their products to domestic steel mills and overseas foundries.

Because this would greatly expand the number of potential buyers for the company's processed scrap products, they believe opening a facility with port or rail access could result in an increase in both the revenue and pro-fit-ability of their existing operations.

Greenwave By The Numbers

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Key Details & Sources: Company Website. Form S-3.

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Hinted at above, GWAV has several potential breakout catalysts to pay attention to right now. Here they are:

No. 1 GWAV Potential Catalyst - This Profile's Low Float Could Provide A Volatile Environment In A Flash!

According to info from Yahoo Finance's website, GWAV has a low float.

The website reports this profile to have roughly 3.58Mn shares in its float.

Why is that figure important? It's important on one crucial level. Volatility.

Could more positive company news in mid-2024 provide a near term spark?

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No. 2 GWAV Potential Catalyst - Copper Surges To All Time High (GWAV Generates Record Revenue!)

Greenwave Technology Solutions' Downstream Processing System Generates Record Revenues as Copper Hits All Time High

Company's Downstream Processing System Generated Record Revenues in May 2024

Greenwave Reiterates its Confidence in Exceeding Revenue Guidance of $40Mn Driven by Both Increased Volume and Higher Prices

Copper Prices Hit an All-Time High in May 2024 Due to Demand for Electric Vehicles and AI Technologies

CHESAPEAKE, Va., June 5, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, announced today that its downstream processing system generated record revenues in May 2024, driven by both increased volume and higher prices.

According to a May 27, 2024 Credendo Research Report, Copper Sector: Record-Breaking Copper Prices Amid Speculations of Supply Shortages, demand for copper is being driven by a, "boom in in-vest-ments in green technologies (e.g. renewables and electrical vehicles) and in AI technologies."

In July 2023, Greenwave commenced operation of a downstream processing system at its Kelford, North Carolina facility, enabling the Company to recover millimeter-minus pieces of metal from its automotive shred residue or "fluff" as it is known in the industry. The Company has in-vest-ed more than $500k in an Orbcon PTV balling mill, focused on extracting copper from the shred residue.

Greenwave is on track to generate record revenues driven by the volume of steel and copper processed in 2024. Copper prices hit an all-time high in May 2024.

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Read the full article here.

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No. 3 GWAV Potential Catalyst - GWAV Significantly Strengthens Balance Sheet!

Greenwave Eliminates All Convertible Debt

Final Conversion of $18Mn in Convertible Debt Occurred Today

Greenwave Eliminated an Additional $17.2Mn in Debt Held by Chairman

Company Now Has No Convertible Debt or Preferred Shares Outstanding

Greenwave Bolsters Balance Sheet with $21.8Mn in Cash

CHESAPEAKE, Va., May 22, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that it has retired all of its convertible debt and preferred shares. Since the beginning of 2024, Greenwave has eliminated $35.2Mn in debt, including $17.2Mn of debt held by the Company's Chairman and CEO.

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Read the full article here.

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No. 4 GWAV Potential Catalyst - New AI-Powered Features Could Propel GWAV's Scrap App To Accelerate Growth.

Greenwave Technology Solutions' Scrap App Launches A.I. Features to Scale and Grow into New Markets

CHESAPEAKE, Va., March 26, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, announced today that its wholly-owned subsidiary, Scrap App, Inc. ("Scrap App") has launched new AI-powered features to optimize pricing and sales. Greenwave anticipates Scrap App's planned national expansion, coupled with its AI strategy, will accelerate growth.

Greenwave is one of the first companies to utilize artificial intelligence in the $42.3Bn U.S. scrap metal industry(1). Scrap App has generated hundreds of thousands of do.ll.ars in revenue from end-of-life vehicles in the limited markets in which it's currently available -- Hampton Roads, VA, Richmond, VA, and Cleveland, OH.

A competitor to Scrap App reportedly generated $159Mn in annual revenue during 2022(2). Greenwave believes the efficiencies created by its vertical integration of key stages of the car scrapping process could lead to significant competitive advantages.

"We plan to expand Scrap App to multiple new markets across the United States in the coming weeks," stated Greenwave Chairman and CEO Danny Meeks. "As a technology platform, Scrap App has the ability to scale to new markets with minimal capital in-vest-ment – we do not have to open a new facility, purchase additional equipment, or significantly expand overhead when we enter a new city. We believe Scrap App has the potential to generate significant, high-margin revenue and create value for Greenwave shareholders."

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Read the full article here.

Source (1) (2)

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No. 5 GWAV Potential Catalyst - Oversold Technicals Could Be Signaling Strong Potential For A Healthy Reversal.

Here's what was cooking at the closing bell Monday. Barchart was reporting multiple oversold technical indicators for GWAV.

These technicals could be signaling a healthy reversal is approaching in the near term.

Here's the definition of a "reversal" from Investopedia:

"A reversal is a change in the price direction of an asset. A reversal can occur to the upside or downside. Following an uptrend, a reversal would be to the downside. Following a downtrend, a reversal would be to the upside. Reversals are based on overall price direction and are not typically based on one or two periods/bars on a chart."

Here's the technicals to pay close attention to (as of 4:00PM EST Monday):

  • 9-Day Relative Strength Index: 28.32%
  • 14-Day Relative Strength Index: 33.03%

When these numbers drop down to the 30% range and lower, they can be viewed as being in oversold territory. While in this territory, they can paint the picture of a profile that is undervalued.

  • 14-Day Raw Stochastic: 1.27%
  • 14-Day Williams %R: 98.73%

As the Raw Stochastic nears the 10% range and lower and the Williams %R nears the 90% range or higher, these technical indicators may also be viewed as oversold and undervalued.

Keep an eye on these technicals closely.

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GWAV Recap - These Potential Breakout Catalysts Are Must-Know Material

No. 1 - This Profile's Low Float Could Provide A Volatile Environment In A Flash!

No. 2 - Copper Surges To All Time High (GWAV Generates Record Revenue!)

No. 3 - GWAV Significantly Strengthens Balance Sheet!

No. 4 - New AI-Powered Features Could Propel GWAV's Scrap App To Accelerate Growth.

No. 5 - Oversold Technicals Could Be Signaling Strong Potential For A Healthy Reversal.

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Coverage is officially reinitiated on GWAV. When time allows, do this:

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Get GWAV on your radar right now.

Sincerely,

Kai Parker

StockWireNews


(Always Remember The St-ock Prices Could Be Significantly Lower Now From The Dates I Provided.)

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