Greenwave Tech stock plunges to 52-week low of $0.24

In a stark reflection of investor sentiment, Greenwave Tech Solutions (OTC:TSCC) Inc. (GWAV) stock has plummeted to a 52-week low, trading at a mere $0.24. With a market capitalization of just $5.71 million and negative EBITDA of $11.17 million, the company’s InvestingPro Financial Health Score indicates WEAK performance. This latest price level underscores a tumultuous period for the company, which has seen its stock value erode dramatically over the past year. The 1-year change data paints a grim picture, with Greenwave Tech Solutions witnessing a staggering decline of -99.75% in its stock value. This precipitous drop has alarmed shareholders and market analysts alike, as the company grapples with challenges that have severely impacted investor confidence and market valuation. InvestingPro analysis reveals 14 additional key insights about GWAV’s financial health and valuation metrics, helping investors make more informed decisions in these volatile conditions.

In other recent news, Greenwave Technology Solutions, Inc. has updated its revenue forecast for fiscal year 2025 to a range of $47 million to $50 million, following the implementation of tariffs on imported metals. This adjustment suggests an anticipated growth of 10-20%, with expected gross profit margins between 40-45%. The company also announced a $7 million offering through a registered direct offering and concurrent private placement, involving the issuance of 21.1 million shares of common stock and warrants. These funds are intended for debt satisfaction and working capital purposes, with Dawson James Securities, Inc. serving as the placement agent.

Additionally, Greenwave has integrated GreenSpark’s AI-driven platform to enhance operational efficiency, aiming to accelerate revenue and margin growth. In a separate development, the company reported the resignation of Director Henry Sicignano III from its Board of Directors, with no disputes cited as the reason for his departure. Furthermore, Greenwave’s Scrap App has expanded into 27 new markets, backed by a major junk car buyer, to strengthen its presence in the auto recycling sector.

These developments reflect Greenwave’s strategic efforts to leverage technology and market conditions to bolster its growth trajectory. The company continues to play a significant role in supplying domestically-sourced metals to major industry players, amid changing market dynamics influenced by recent tariffs. Investors and industry observers are closely monitoring how these factors will impact Greenwave’s performance and position in the metal recycling industry.

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