Core Insights - Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) is positioned to benefit from recent tariffs on all foreign steel and aluminum imports, which are now effective without exception or exclusion [1][3] - The company has accumulated inventory valued at over $10 million with margins exceeding 50% based on current market prices, indicating strong financial health [1] - Scrap steel prices have surged more than 20% in the past month and are expected to continue rising, which will drive significant revenue growth and margin expansion for Greenwave [1] Company Operations - Greenwave operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, supplying 100% domestically-sourced scrap metal to major industry players such as Nucor, Sims, and Cleveland-Cliffs [6][7] - The company is the leading scrap metal chain in Hampton Roads, which is strategically located near the world's largest naval base and major defense contractors, ensuring a consistent supply of military-grade scrap metal [2][5] - Greenwave routinely secures contracts from the U.S. Federal Government and major corporations, providing a stable supply channel of high-quality scrap metal [5] Market Dynamics - The metal tariffs are expected to remain in effect for the foreseeable future due to national security concerns, reducing dependence on foreign entities for essential raw materials [3] - President Trump's shipbuilding initiative is anticipated to increase demand for scrap metal in Greenwave's primary market, which includes significant naval construction and maintenance operations [4][6] - Forthcoming copper tariffs are also expected to accelerate revenue growth and margin expansion for the company [6]
Greenwave CEO Danny Meeks to be Interviewed on Good Morning America to Discuss Tariffs on Steel and Aluminum Imports Today