[ad_1]
Despite the general bearish trend, investors can still find good opportunities in the OTC markets, and Genesis Electronics Group, Inc. (OTCMKTS: GEGI) is one of the best examples. The OTC stock, which goes with the Pink Limited Information designation, continues to climb at an exponential rate. The last time we discussed GEGI just two weeks ago, it was trading near $0.0085, the highest level in over five years. Today, you can buy it for $0.016 per share, up 60% in the past five trading sessions and up over 430% in the month. It is already the highest for more than a decade.
GEGI Daily Chart
With a market capitalization that has already crossed the $30 million mark, why is GEGI confidently reaching new heights?
GEGI restructures its debt and adopts a new commercial direction
GEGI has already delivered decent returns to many of our subscribers and readers since the beginning of August when we discovered this OTC stock. However, this could be the start of something much bigger, as the company is just taking the first steps with its new business direction.
In the past, GEGI developed solar and alternative energy applications for consumer devices, such as smartphones. He focused on developing the SunBlazer, a solar charger designed specifically for Apple devices.
It also held mineral rights to 13 gold mining claims in the Osceola mining district in Nevada.
In recent years, GEGI’s main business was GMSacha Animals, a pet food line.
Eventually, GEGI abandoned all of its previous operations and updated its business and image from scratch. About three months ago, the company announced a new business plan that revolves around upcoming acquisitions or licensing deals with standalone technology companies.
GEGI seeks to identify companies and/or technologies in the fields of transportation, security, flight and artificial intelligence (AI) where autonomous technologies will be an explosive accelerator for the growth of new companies.
Previously, GEGI had stagnated for years mainly because of a debtor dispute, preventing it from issuing shares. Luckily for the company, it managed to get a court ruling in April. She announced at the time that she had negotiated with a former debtor with a private investor to settle their dispute, but the terms were not disclosed. Former GEGI CEO Katharina Nanny Bahnsen said at the time:
“We are pleased to have been able to bring in new partners who were able to help the company successfully negotiate this debt in order for the Seventh Judicial Circuit Courts in St. Johns, Florida to dismiss the orders that prohibited us from issue new shares, which has held us back for years.
Bahnsen stepped down as CEO, President and CFO, with Braden Jones named the new CEO and CFO. Jones has over 15 years of experience in logistics and transportation, having most recently owned and operated a trucking and transportation business.
Following debt restructuring and the appointment of a new CEO, GEGI was granted Pink Current status.
When announcing the new business plan in late May, Braden Jones revealed more details about the new business direction, which is focused on standalone solutions. He said:
“Autonomous technology has advanced rapidly over the past 10 years and there are so many industries that can be disrupted if these technologies were applied to them. could be good candidates for acquisition or licensing agreements. Their expertise and advice has been extremely valuable thus far. We look forward to formalizing our relationship with these individuals and the Company and making these announcements in the near future. future, so that their value can be felt by our shareholders.
At the end of June, GEGI signed an agreement to add Kevin Damoa as a strategic advisor to the board of directors. Damoa is an experienced operations professional and military veteran with a demonstrated history of working in the aviation and aerospace, electrification, electric mobility and defense industries. He also added Kasey Evans as a strategic advisor to the board at the end of August.
Meanwhile, the company has launched a new interim website provide more information to its shareholders.
Autonomous vehicles are an unexplored market
GEGI is focused on autonomous solutions, which will likely grow with the self-driving car market. The company does not plan to build self-driving cars and trucks, but focuses on self-driving solutions that can solve logistics and transportation problems. Still, its success depends a lot on the performance of the self-driving car market, which is expected to reach over $11 billion by 2029 at a CAGR of 31.3%, according to Fortune Business Insights.
The emerging market is likely to grow exponentially after jurisdictions representing major markets create the legal frameworks for these new technologies.
Last March, U.S. Transportation Secretary Pete Buttigieg said federal policy on autonomous vehicles would see “significant” developments in the coming years. He said regulations must set limits on autonomous driving without stagnating innovation in an industry still in its infancy.
“I think we are going to see some very significant developments here in the 2020s,” he added.
US regulators have already eliminated the need for automakers to equip fully autonomous vehicles with driving controls, including brake pedals and steering wheels.
Elsewhere, the UK has said it is seeking widespread deployment of autonomous vehicles on the roads by 2025, revealing plans for new laws and £100m ($120m) in funding. Transport Secretary Grant Shapps said:
“We want the UK to be at the forefront of the development and use of this fantastic technology, and that is why we are investing millions in vital safety research and establishing the legislation to ensure that we get all the benefits that this technology promises.”
Meanwhile, China is striving to adopt self-driving vehicles in passenger transport. The Department of Transport said last month that the country had drawn up rules to regulate the self-driving industry, with the ministry encouraging the use of self-driving transport, such as taxis, in easily controllable scenarios in emergency situations. low traffic.
The autonomous vehicle industry is set to explode in the coming years, with major automakers vying for market share. Ford, Hyundai, Tesla, Volvo, and Baidu are just a few well-established companies exploring this emerging industry. Startups like Waymo, Cruise, Aurora, and Pony.ai are leading this new trend. Last year, Ford created a comprehensive unit for driverless cars and new technologies.
GEGI taps into a new market with enormous potential
One of the main reasons GEGI is gaining momentum is that more and more investors are realizing the potential of the autonomous vehicle market, which could spur GEGI’s rapid growth, especially since it has a nice shareholding structure.
The number of authorized shares has fallen from 2.2 billion to just 5 billion, with approximately 2 billion shares pending from the new merger/licensee candidate.
$GEGI AS raised announced, only 2.7 billion, honestly amazing
I was worried they would do the AS 10, 20 or 30 billion, and now we’re only sitting at 5 billion, with a large block of over 2 billion available for the merger/licensing candidate
Massive win for imo shareholders pic.twitter.com/N7Bw6POB9Y
— SpacTraderInTraining JD (@SpacTraderInTra) September 2, 2022
The fact that the new CEO did not exaggerate the increase in the number of authorized shares shows that he takes the company seriously and considers the interests of shareholders.
GEGI appears to be an excellent stock pick with long-term potential as it taps into a market with huge potential.
GEGI has already demonstrated incredible growth but hasn’t even revealed a merger candidate. If this important news is released by the end of the month, the rally will likely continue at a similar pace.
$GEGI why am I holding GEGI?
– First, Genesis announced that they are increasing the AS to accommodate the fusion.
– So… they did.
– Now comes the merger.Next week could be really special, either in anticipation of an update or in reaction to a https://t.co/EvJ6en3S3M
— know your value (@knowyourvalue0) September 2, 2022
In the near future, the logistics and transportation industries will greatly benefit from the implementation of autonomous solutions. If GEGI manages to secure a comfortable place for itself in this emerging space, then the sky is the limit for this OTC stock.
GEGI could become one of those success stories that starts with Pink Current and ends on NASDAQ or NYSE. This is an all-or-nothing stock that investors should pay close attention to, as it is an emerging market with huge opportunities.
WHEN FINANCIAL INSIDER HAS A STOCK ALERT, IT CAN PAY TO LISTEN. AFTER ALL, OUR FREE NEWSLETTER HAS FOUND MANY THREE-DIGIT WINNERS FOR OUR SUBSCRIBERS. WE SPECIALIZE IN FINDING THE MOMENTUM BEFORE IT HAPPENS!
Disclosure: We have no position in any of the stocks mentioned. We wrote this article ourselves, and it expresses our own opinions. We do not receive any compensation for this. We have no business relationship with any company whose stock is mentioned in this article. Insider Financial is not an investment advisor and does not provide investment advice. Always do your research and make your own investment decisions. This article is not a solicitation or recommendation to buy, sell or hold any securities. This article is for informational and educational purposes only and does not provide investment advice.
[ad_2]
Source link
Comments are closed.