There has been an increasingly prevalent trend in today’s economy to create products that will not harm the environment after use. While sometimes it is not cost effective to create such products, certain companies have found a niche in this space to become profitable in addition to being eco-friendly.
This morning, Byzen Digital Inc. (OTC-PNK:BYZN) announced that it acquired controlling interest in 100BIO, which is a market leading technology provider of stylish, and eco-friendly food packaging products. 100BIO’s patented technology has secured composting certifications in the US, EU and Asia as the company continues to develop new technologies and solutions to continue business expansion.
Byzen Digital believes that in the near term, a significant growth sector of the overall economy will be within the clean energy and sustainable products and services, which is why this acquisition made sense to the United Kingdom-based company. Traders seemed to be thrilled with the news as shares traded up to $.102/share (+17.2%) in early trade. This move is attempting to break the stock’s current downtrend, as it lifted the 14-day Relative Strength Index (RSI) out of oversold territory. The next test will be to see if the price can close above its 20-day moving average, which is currently around the $.114 level.
Tech Insider
