Alternet Systems Stock Rockets 64% on CEO’s Comments: What to do in July?

The electric vehicle space has grown at a breakneck pace over the course of the past half a decade or so, and many companies have emerged as notable players in the space. One of the companies that have got a lot of traction in recent weeks is Alternet Systems, Inc. (OTCMKTS:ALYI), which manufactures electric vehicles and is focussed on the African market. 

ALYI Electric Vehicle Strategy Stands Out Among Industry Contenders

On Monday, the Alternet stock soared by as much as 64% after the company’s Chief Executive Officer made highly bullish comments with regards to the electric fuelled transportation space in Africa. 

The CEO of the company Dr. Randall Toro, stated that the opportunity in the electric-powered transportation space in Africa is far bigger than what it is anywhere else in the globe. He added that the solutions that are going to be developed for the African continent are eventually going to be deployed in the rest of the world. Recently, the company made significant progress with regard to its efforts in Africa. 

Alternet Systems announced that it has already started the designing and engineering work necessary for building the facilities at a 100-acre site. The site in question is going to be used for the company’s anchor event, the annual mobility conference and symposium in Africa. 

The comments from the company’s CEO are significant, and it is no surprise that the market reacted positively to them. It now remains to be seen if the Alternet stock can continue to record gains for the rest of the week. It is likely that the stock is going to be on the radars of many investors this week, and it could be worthwhile to keep an eye on it. However, those are not the only positive developments surround the company over the past weeks. Alternet has also managed to secure investment for building the 100-acre facility that is going to be used for the anchor event in Africa. 

Alternet recently announced that it managed to secure an investment to the tune of $2.5 million for the same, and it is going to take care of the initial stage of development. It should be noted that the $2.5 million is an advance on a total investment outlay of $25 million, and that has been committed in a letter of intent as well. 

The company is going to furnish more details with regards to the development today, and hence, it could be highly beneficial for investors to keep an eye on the details. This past Friday, Alternet further highlighted the fact that there has been a great influx of venture capital from Japan into Africa, and that bodes well for the company, as it is also looking for investments into its projects.

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