Still low, TAHN looks primed to blow
EDIT: TICKER IS TANH NOT TAHN SORRY I got the title wrong,, whoops.
Longtime lurker, first post (love the sub). Hope I am posting this right.
Anyway, I saw this post on this sub couple months ago about TANH: https://www.reddit.com/r/pennystocks/comments/1gawgt3/3_asia_pennies_without_rs_risk/
Been following since and they just signed a 5 million annual contract in USA worth like 4X their market cap.
I looked them up in Morningstar and some stuff going for it:
-Currently trades below book value.
-P/E ratio of 0.1
-142 Million in assets and over 29 million cash
-Heavily shorted and ended up on Reg SHO for a while.
-Is sorta popping today
Am I crazy or is this sound pretty darn good? I always learn about these plays too late but this one looks promising as it hasn't really moved yet.
Currently trading around $0.17 - $0.20 today, not too far off all-time lows.
So I feel like this might be a good entry on TANH before it climbs or maybe even squeezes a bit? I am pretty novice though so lmk if this is dumb.
For those unaware, Tantech (TANH) makes eco-friendly products, mostly from bamboo, and also bought a controlling stake in an EV manufacturer. This is their US subsidiary that just signed the contract: https://www.prnewswire.com/news-releases/tantechs-us-subsidiary-signs-5-million-sales-contract-302339500.html
They announced the USA subsidiary a couple weeks ago: https://www.nasdaq.com/articles/tantech-holdings-establishes-new-us-based-subsidiaries