The provider of technology solutions around ecological environments ReTo Eco-Solutions, Inc. (NASDAQ: RETO) has been facing a drop in its stock price in pre-market session today. The stock shunned -5.85% of its value in early pre-market trades (as of 07:09 a.m. EST), despite an impressive gain of 22% during the regular sessions on Thursday. The price decline came even after positive news of an award of the new contract won by the company’s unit.
What actually happened?
Formed in 1999, ReTo is striving to bring clean water and sustainable crops to communities worldwide, through its proprietary technologies, systems, and solutions. A full range of products and services are offered by the Company, ranging from the manufacture of environmentally-friendly building products to the production of manufacturing and environmental protection equipment. They have been used to prepare environmentally friendly construction materials, consult on projects, design and install ecological soil restoration systems, and install solid waste treatment systems for the improvement of ecological environments.
- Underdog Growth Stocks You Should Keep an Eye on in 2021
- Are You Looking for Dividend Paying Stocks? Here are the Best Buys in 2021
RETO yesterday reported that Ruitu Mingsheng Environmental Protection Building Materials (Changjiang) Company, Ltd., wholly owned by ReTo Eco-Solutions, won a sales contract worth RMB 10.71 million with Sanya Guohong Municipal Engineering Construction Co., Ltd.
With extensive sales channels and markets, Sanya Guohong is an influential State-owned enterprise that has a strong impact on the market. The two companies plan to use environmentally friendly products and equipment developed by ReTo Eco-Solutions in more construction projects.
This will also include Reto’s patented retaining bricks, which are used all over the world. They are used to build projects for beautification purposes as well as protection from natural disasters like landslides.