Markets have had a mixed performance so far today, with the Dow up and NASDAQ down at the time of this writing. A positive upward revision to US GDP numbers provided macroeconomic justification for recent momentum, even as some investors appear to be taking profits as markets linger near all-time records.
Today’s Top Performer is a long play, and the direct result of an Initial Public Offering, or IPO. NQ provides smaller investors with a powerful tool for tracking new stock issues. Whether you’re enthusiastic about the underlying stock or simply searching for a momentum play, IPO’s offer unique and diverse strategic options.
ReTo EcoSolutions jumped 30% after today after its stock hit the public markets.
RETO manufactures materials for use in sustainable construction and engineering projects. They also provide consulting and support for this projects, including heavy equipment. ReTo is specifically focused on the “sponge city” market: more absorbent materials that could dramatically improve the water situation for major urban areas. ReTo, based in Beijing, also recycles industrial waste for use in construction materials.
They announced their IPO at $5 today, and the stock has already jumped up to $9.80 at the time of this writing. With governments and private enterprises around the world grappling with growing ecological issues, future revenue potential firms like ReTo could be strong. Investors are so far betting that ReTo’s initial price was priced for substantial value.
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