Resgreen Group Stock Soars On High Volume: What’s Next?
The mobile robotics industry has quietly become one of the more interesting spaces in tech over the past few years, and one of the well-known players in it is Resgreen Group International Inc (OTCMKTS:RGGI).
Key Factors To Watch
The stock has rallied by as much as 70% recently, and in light of such a rally, it could be worthwhile for investors to perhaps take a closer look at some of the events surrounding the company. Earlier on in July, the company had announced that it was testing the RealSense LiDAR camera made by Intel for the purpose of guiding Autonomous Mobile Robots (AMRs) and Automatic Guided Vehicles (AGVs).
The camera in question deploys the unique MEMS mirror scanning technology that helps in providing depth in data at a fairly accurate level and at a high resolution. LiDAR also helps vehicles in scanning its surrounding by way of light pulses. The Chief Executive Officer of Resgreen, Parsh Patel, stated that the ongoing ‘push’ for autonomous vehicles had been the reason why these cameras have become not only more accurate but also far more affordable. The fast rate of response and accuracy has meant that LiDAR cameras have also become a viable option for the AMRs that are produced by Resgreen.
However, that is not all. The company is also working on the preparations for manufacturing its own electric vehicles in the United States. The CEO stated that it is important that all the AGVs and AMRs are manufactured in the United States so that Resgreen can create not only jobs but also produce high-quality offerings. He went on to add that manufacturing in the United States will also allow Resgreen to make faster delivery of vehicles and parts to customers in Canada and in America.
In addition to that, the coronavirus pandemic proved to be an opportunity for Resgreen to offer a wide variety of services with its AGVs and AMRs. Back in May, the company announced that that AGV+AMR, equipped with artificial intelligence, are going to be suitably equipped to help in the sanitization efforts with regards to key facilities. Considering the fact that the coronavirus pandemic made it impossible for people to step out of their homes, robotics came up as a viable option.
While the company made the announcement regarding the possible use of robotics for sanitization in May, it was on June 1 that Resgreen announced that it invested in AMRs in order to help in the fight against the coronavirus and other similar pathogens. It was another key announcement from the company and resulted in a lot of optimism around the stock. Considering the recent gains made by the Resgreen stock, investors could do well to keep an eye on it.
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