One company we have been following closely has just rebounded from its 1-year low.
Eco Depot Inc. (OTCMKTS: ECDP) hit its 52-week low of $ 1.06 on Monday and rose 7 cents, or 6.6%, to $ 1.13 on Tuesday. After such a high closing price, the stock could continue its momentum on Wednesday. This could be a very crucial day for the stock.
There is reason to believe that the stock is headed in the right direction. The company’s Bronya Climate Shield color line, which helps reduce energy bills by up to 40%, has brought a lot of promising news lately.
The company is slated to start producing the paint in the fourth quarter, which is why investments in the third quarter could be so worthwhile.
Production will take place in their brand new facility in Montreal, Canada. The company’s first facility will be 4,200 square feet and produce 2,700 gallons per day for pre-tax sales of nearly $ 40 million.
A reason ECDP could achieve this revenue potential if the product launches at the largest hardware show in the country; the North America National Hardware Show in Las Vegas Nevada October 21-23. This is actually more of an international show with some of the biggest names in hardware from Lowes to Home Depot among 2,800 exhibitors with over 20,000 attendees who will be attending this year’s show which will be held this spring on the 6th -19th pandemic.
Make sure you have ECDP on your watchlist.