Why is GWAV active in the penny stock market?

The stock price of GWAV has experienced a significant decrease of 26.85% on April 17. Despite this, the stock showed notable activity in the pre-market and post-market sessions, with a pre-market percentage change of 5.79% and a post-market percentage change of 80.35% on the same day. Greenwave Technology Solutions, Inc. (GWAV) has been active in the penny stock market due to a combination of factors:

1. Scrap Metal Prices Surge: The company has seen notable margin improvements due to a 20% increase in scrap steel prices since February. This surge in prices is attributed to newly implemented tariffs on steel and aluminum imports, which have created a favorable market condition for Greenwave. The company's operations, which include 13 recycling facilities, are strategically located across Virginia, North Carolina, and Ohio, allowing it to capitalize on the heightened demand and improved margins resulting from the increased costs of imports.
2. Tariff Changes: Greenwave is poised to gain from the recently imposed tariffs on steel and aluminum, which are likely to persist due to national security concerns. These tariffs have fundamentally altered the competitive landscape, increasing domestic demand for materials and creating a stable market environment for companies like Greenwave. The company anticipates a substantial increase in demand, which is projected to drive significant revenue growth and allow for margin expansion opportunities.

In conclusion, GWAV's activity in the penny stock market is likely a result of a combination of factors including the surge in scrap metal prices and the tariff changes. These factors have created a favorable market environment for the company, leading to increased demand and improved margins, which has attracted investor attention and resulted in significant stock activity.