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In a recent transaction, Jason T. Adelman, a director at Greenwave Technology Solutions, Inc. (NASDAQ:GWAV), sold 100,000 shares of the company’s common stock. The sale comes as the stock trades near its 52-week low of $0.24, with shares down nearly 99% over the past year according to InvestingPro data. The sale took place on February 28, 2025, at a price of $0.25 per share, totaling $25,000. Following this transaction, Adelman retains ownership of 300,000 shares in the company. Greenwave Technology Solutions is a Delaware-incorporated firm specializing in wholesale metals services, currently valued at $5.7 million by market capitalization. InvestingPro analysis indicates the stock is currently undervalued, with 13 additional key insights available to subscribers.
In other recent news, Greenwave Technology Solutions, Inc. has announced several developments that could impact its operations and growth trajectory. The company has adjusted its 2025 revenue forecast to between $47 million and $50 million, attributing this increase to new tariffs on imported metals, which have positively affected the domestic metal recycling industry. Additionally, Greenwave has entered into agreements for a $7 million registered direct offering and concurrent private placement to fund debt satisfaction and working capital. This financial move involves issuing 21.1 million shares of common stock and warrants, with Dawson James Securities, Inc. acting as the placement agent.
In terms of strategic partnerships, Greenwave is integrating GreenSpark’s AI-driven platform to enhance operational efficiency and accelerate revenue and margin growth. This collaboration is part of the company’s expansion efforts and follows the recent deployment of its Scrap App platform into 27 new markets. The Scrap App, which automates the buying process of junk cars, aims to improve efficiency in the auto recycling sector.
Meanwhile, the company has reported the resignation of Director Henry Sicignano III from its Board of Directors, with no successor announced yet. This change comes as Greenwave continues to focus on growth and operational advancements. These developments reflect Greenwave’s ongoing efforts to strengthen its market position and expand its operational capabilities.
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