A $20 million order for the supply of electric motorcycles is one of the reasons why Alternet Systems Inc (OTCMKTS: ALYI) is surging. The company’s ReVolt Electric Motorcycles continues to elicit strong demand, a development that has helped strengthened investors sentiments in the stock.
ALYI Catalysts and Share Price Analysis
Shares of Alternet Internet Systems have taken off after a long period of consolidation at all-time lows. After a significant correction from 52-week highs of $0.695, the stock has once again started surging in continuation of the emerging uptrend.
The $0.02 mark has emerged as a strong support level from where the stock is trying to make a comeback as it continues to edge higher. A breach of the $0.04 resistance level has opened the door for the stock to power through, back to 52-week highs.
Above the $0.04 technical level, Alternet Internet Systems is a buy’ and should continue to climb the ladder. Conversely, a violation of the crucial support level could open the door for short sellers to come back, and push the stock to the $0.02 Handle.
However, as it stands, the stock remains well positioned to continue powering high as the upward momentum continues to gather pace.
About Alternet Internet Systems
Alternet Internet Systems is a company focused on the development of environmentally sustainable and energy storage solutions. The company is currently involved in the development of electric vehicles and motorcycles. It has also expanded its footprint into the hemp industry, as it continues to work on energy storage solutions for the sector.
Electric Motorcycle Opportunity
Shares of Alternet Internet Systems are exploding on investors reacting to the tremendous opportunity at stake as the company embarks on an aggressive commercialization drive of its electric motorcycles. Africa is one of the markets that the company has set sights on given the vast demand for motorcycles.
The company announced that it has received a prospective order for 2,000 ReVolt Electric Motorcycles has the market talking. The order is poised to generate as much as $20 million in sales for the company.
With the company having secured $1.5 million worth of firm orders, 2019 is slowly turning out to be a breakthrough year when it comes to revenue generation. Buoyed by the strong demand, the company intends to set up a manufacturing facility in Kenya that will produce ReVolt Electric Motorcycles to target the market better.
“ALYI’s initial sales success for its electric motorcycles has been with metropolitan shared ride providers. Extending upon that success, ALYI plans to partner with shared dwelling organizations around the world in the design of its electric bicycle with the idea of providing fleet electric bicycle’s for shared use,” Alternate Systems in a statement.
In addition to setting camp in Africa, Alternet Systems is also eyeing acquisitions as part of its growth strategy. The Company is currently pursuing the acquisition of a shuttered car plant facility that it plans to use to strengthen its manufacturing operations.
The company’s merger and acquisition strategy seek to enhance energy storage reach as well as electric vehicle production capacity.
In addition to pursuing opportunities in the $24 billion electric vehicle marketplace, Alternet Systems has also set sights on the hemp industry. The energy solution firm has secure a license in New York where it plans to carry out research works on its hemp energy storage solutions.
The company has already brought Clarkson University professor David Mitlin onboard to spearhead research efforts of its new energy storage solution. Alternet Systems intends to use the new solution to target a market poised to double six times to $103 billion over the next ten years.
Alternet Systems is firing on all angles if recent developments and milestone are anything to go by. The company expanding its Electric Vehicle into Africa attest to the growing demand for its ReVolt Electric Motorcycles.
The company working on energy solutions for targeting opportunities in the multi-billion-dollar hemp industry is another development that underscores growth prospects.
Goldman Small Cap Research initiating coverage of the stock with a speculative buy rating and a share price target of $0.09, points to a bright future.
As it stands, Alternet Systems remains well positioned to continue surging in the market as a bounce-back play and on improved fundamentals.
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Disclosure: We have no position in ALYI and have not been compensated for this article.