Rolls-Royce Holding (RLLCF) Stock Consolidates After The Jump: What’s The Next Trigger?
More and more companies now have to adjust their businesses with the legitimate environmental concerns and the latest company to do so is the aircraft engine manufacturing behemoth Rolls-Royce Holding (OTCMKTS:RLLCF).
Last week the company announced that it is going to create products that are going to help the company become a zero net emissions entity by the end of the current decade. Over the course of the past month, the Rolls Royce stock has also gathered strong momentum and ended up clocking gains of as much as 200%. In this situation, it could be a good idea for investors to take a bit more interest in the company’s efforts to be environmentally responsible.
In its statement last week, the jet engine manufacturer stated that it has accelerated the plan to become a net-zero emissions company and went on to reveal that it has other goals as well which will have a major impact on the worldwide economy becoming zero net carbon by around 2050.
However, as far as its own products are concerned, the company is looking to come up with civil aeroplane engines which are going to be propelled entirely by sustainable fuels.
On the other hand, the company is also going to spend heavily on this front. Roll Royce has targeted to spend as much as 75% of its research and development budget towards zero net carbon technologies by 2025. Warren East, the Chief Executive Officer of Rolls Royce, stated that although the world is slowly emerging from the devastation of the COVID 19 pandemic, global economic growth can be achieved even though companies may wish to move towards a greener future.
It is a major move from the company considering the fact that it is one of the biggest names in the jet engine manufacturing industry. It remains to be seen if this announcement leads to similar announcements from its competitors.
Very Good Food Company (VRYYF) Stock Continue To See Selling Pressure: Now What?
The Very Good Food Company (OTCMKTS:VRYYF) has not had a particularly great time in recent weeks as investors have continued to exit the stock. Over the course of the past three weeks, the stock has slumped by as much as 25% and in this situation, it might be important for investors to figure out if this might be an opportunity to get into the stock.
The morning the company came into focus after it announced that it is going to host the annual general meeting and the special meeting with shareholders on June 29, 2021 at 11 a.m. It is going to be a virtual meeting and will be hosted through a webcast.
It goes without saying that the events from the meeting are going to be watched closely by market analysts as well as investors. While this is an important announcement, last week The Very Good Food Company announced a bought deal offering worth as much as $15 million.
The plant based food technology firm announced that is signed an agreement with Canaccord Genuity Corp by way of which the latter is going to act as the only book runner and the lead underwriter for the offering.
As per the provisions of the deal, Canaccord is going to buy as many as 4055000 units in The Very Good Food Company for $3.70 each and it is expected to raise gross proceeds of just a bit over $15 million.
One unit is going to be made up of one common share and half of a share warrant. A whole warrant will give the holder the right to exchange it for a common share in the company for an exercise price of $4.60 a share. It should be noted that the option can be exercised at any time within 18 months from the day of the closing.