Greenwave Technology Solutions (GWAV) has been one of the year’s worst-performing stocks, battered by a Nasdaq delisting, weak earnings, and shareholder dilution.
Greenwave's management, however, believes a turnaround may be underway due to a revised revenue forecast and favorable Trump policies.
GWAV was delisted in September after failing to maintain the $1 minimum bid price. The stock now trades at just $0.16 a share, firmly in penny-stock territory, with a market cap of roughly $9.2 million. Shares are down more than 77% year-to-date.
With a 20-year operating history, Greenwave runs a network of metal recycling facilities focused on processing and supplying ferrous, nonferrous, and rare earth metals.
The company previously announced record steel and copper volumes in May 2024 and projected more than $40 million in full-year revenue. That target proved optimistic; Greenwave finished the year with $33.32 million in sales.
The company has recently issued a new forecast for fiscal 2025, projecting between $47 million and $50 million in revenue.
Management credits the improved outlook to operational expansion and a potential demand surge tied to President Trump’s renewed tariffs on imported metals.
Greenwave has spotlighted its new 430,000-ton facility in Lexington, North Carolina, as a potential growth engine.
Built entirely with recycled materials, the site is expected to drive increased demand for the company’s recycled steel products.
Tariffs could boost domestic recyclers
While Greenwave still faces steep challenges, including low liquidity and lingering investor skepticism, it may be poised to benefit from federal trade policy.
Trump’s proposed tariffs on steel and aluminum are expected to lift domestic prices and reduce competition from cheaper imports.
The Council on Foreign Relations noted that the tariffs are “likely to boost steel prices,” potentially supporting both U.S. producers and the broader metal recycling sector. A similar round of tariffs in 2018 had that exact effect.
Greenwave has publicly endorsed the new measures, calling them a structural advantage for U.S. recyclers.
“Greenwave expects the tariffs on metals to be perpetual,” the company said, adding that new copper duties could “further amplify” topline growth.
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