ReTo Eco-Solutions (NASDAQ:RETO) stock is soaring higher on Monday following rumors about the company’s involvement in the 2022 Winter Olympics.
According to these recent rumors, the company is close to announcing more projects for the 2022 Olympics in Beijing. It’s worth noting the company already announced state-backed projects connected to the Olympics last month.
Speculation about the upcoming projects has investors taking an interest in RETO stock. As of this writing, more than 68 million shares have changed hands. That’s a massive jump next to its daily average trading volume of 1.21 million shares.
Investors eyeing RETO stock will want to know more about the company before diving in. That’s where the breakdown below helps out.
- ReTo Eco-Solutions is an eco-friendly construction company.
- This has it manufacturing and distributing construction materials made from mining waste and fly ash.
- That includes “aggregates, bricks, pavers and tiles.”
- It also sells the equipment that is used to create these materials.
- Another business of the company is offering consulting services in building eco-friendly cities.
- Among ReTo Eco-Solutions’ projects is the creation of sponge cities.
- These are urban locations that are efficient at capturing and reusing rainwater.
- The company is lead by chairman and CEO Hengfang Li.
- Li’s work at the company comes with more than 30 years of experience in various leadership roles.
- The company was founded in 2015 and joined the public market in late 2017.
RETO stock was up 123.7% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.