One of the stocks that made a strong move mid-week was Alternet Systems, Inc. (OTCMKTS:ALYI) on the heels of a major announcement. After the announcement, investors piled on ALYI, and it briefly rallied by as much as 60%.
Reveals First Glimpse Of Retro ReVolt Electric Motorcycle
Alternet Systems, which is involved in the electric vehicle space, provided a sneak peek into the Retro ReVolt Electric Motorcycle yesterday. The product is meant for sale in the North American region and is distinct from the company’s electric motorcycles that are being manufactured for commercial use in the African on-demand taxi industry.
The company also announced that the complete motorcycle is going to be sold in North America. However, in addition to that, the company is going to cater to the DIY (do it yourself) space as well. Hence, Alternet is also going to sell conversion kits. ALYI went on to announce that it is going to release more photographs of the motorcycle over the coming weeks and start accepting orders by end of 2020.
Alternet also revealed that it will finalize all the relevant details this week only with regards to its electric vehicle ecosystem. It goes without saying that it is a major milestone for Alternet and another announcement could in the offing next week.
Alternet has the vision to create an electric vehicle ecosystem and it seems that the company is inching closer to it. The company first turned its focus on making a move into Africa and since the transportation space is quite under-resourced, it could turn into a good move.
Since the transportation infrastructure per capita is in such a state, companies like Alternet could help in bringing in changes quickly due to the application of superior technology. The rally this week is part of a larger picture and it could be worthwhile for investors to keep an eye on the stock.