Shares of ReTo Eco Solutions (RETO) skyrocketed more than 30% after the company announced its wholly owned operating unit "Ruitu Mingsheng environmental Protection Building Materials Ltd" was awarded a sales contract worth RMB 10.71 million, or $1.6 million. The contract is with Sanya Guohong Municipal Engineering Construction Co., Ltd, which is an influential and State-owned enterprise.
Though being a small, volatile stock, RETO’s high Long-Term Technical score of 96 shows that the company has strong long-term potential. This is likely being helped by the reflation trade that has dominated trading sentiment lately as investors shift into stocks that benefit from a growing economy.
As economic activity picks up, RETO and other stocks in the Building Materials industry will continue to have access to more contracts to compete for. Given RETO's commitment to building in an environmentally friendly manner, they may find themselves with an edge over competitors for these projects.
ReTo Eco-Solutions, Inc (RETO) is headquartered in China and produces environmentally-friendly construction materials and environmental protection equipment in order to consult, design, and install ecological improvements into ecosystems. This includes projects that bring clean water and fertile soil back to areas that have been subject to environmental degradation.
RETO has an Overall Score of 45. Find out what this means to you and get the rest of the rankings on RETO!