Greenwave Technology Solutions (GWAV)
Market Price (12/30/2025): $5.39 | Market Cap: $21,048Sector: Industrials | Industry: Environmental & Facilities Services
Greenwave Technology Solutions (GWAV)
Market Price (12/30/2025): $5.39Market Cap: $21,048Sector: IndustrialsIndustry: Environmental & Facilities Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -51% | Weak multi-year price returns2Y Excs Rtn is -145%, 3Y Excs Rtn is -178% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -20 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -61% |
| Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Sustainable Infrastructure, and Sustainable Resource Management. Themes include Advanced Recycling Technologies, Show more. | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 41607% | |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.5%, Rev Chg QQuarterly Revenue Change % is -14% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -56%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -98% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -95723% | ||
| High stock price volatilityVol 12M is 11903% | ||
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 1974% | ||
| Key risksGWAV key risks include [1] potential Nasdaq delisting for its persistent failure to file required financial reports and [2] significant financial instability that raises substantial doubt about its ability to continue as a going concern. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -51% |
| Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Sustainable Infrastructure, and Sustainable Resource Management. Themes include Advanced Recycling Technologies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -145%, 3Y Excs Rtn is -178% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -20 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -61% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 41607% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.5%, Rev Chg QQuarterly Revenue Change % is -14% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -56%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -98% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -95723% |
| High stock price volatilityVol 12M is 11903% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 1974% |
| Key risksGWAV key risks include [1] potential Nasdaq delisting for its persistent failure to file required financial reports and [2] significant financial instability that raises substantial doubt about its ability to continue as a going concern. |
Why The Stock Moved
Qualitative Assessment
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Between approximately August 31, 2025, and December 30, 2025, Greenwave Technology Solutions (GWAV) experienced a significant decline in its stock price, with key factors contributing to this movement.
1. Reverse Stock Split and Ongoing Nasdaq Compliance Issues
Greenwave Technology Solutions enacted a 1-for-110 reverse stock split effective August 22, 2025, with trading on a split-adjusted basis commencing August 25, 2025. This action was primarily aimed at increasing the per-share price to regain compliance with Nasdaq's minimum bid price requirement. However, the company continued to face challenges, receiving an additional delinquency notice from Nasdaq in August 2025 for failing to file quarterly reports, and a Staff Determination Letter in November 2025 regarding its continued listing.
2. Negative Quarterly Earnings Per Share
The company reported a negative Earnings Per Share (EPS) of -$17.85 for the third quarter of 2025, with the earnings report released on November 19, 2025. This significant financial loss likely contributed to a decrease in investor confidence and negative sentiment towards the stock.
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1. Reverse Stock Split and Ongoing Nasdaq Compliance Issues
Greenwave Technology Solutions enacted a 1-for-110 reverse stock split effective August 22, 2025, with trading on a split-adjusted basis commencing August 25, 2025. This action was primarily aimed at increasing the per-share price to regain compliance with Nasdaq's minimum bid price requirement. However, the company continued to face challenges, receiving an additional delinquency notice from Nasdaq in August 2025 for failing to file quarterly reports, and a Staff Determination Letter in November 2025 regarding its continued listing.
2. Negative Quarterly Earnings Per Share
The company reported a negative Earnings Per Share (EPS) of -$17.85 for the third quarter of 2025, with the earnings report released on November 19, 2025. This significant financial loss likely contributed to a decrease in investor confidence and negative sentiment towards the stock.
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Stock Movement Drivers
Fundamental Drivers
The -18.3% change in GWAV stock from 9/29/2025 to 12/29/2025 was primarily driven by a -98.6% change in the company's P/S Multiple.| 9292025 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 6.72 | 5.49 | -18.30% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 33.32 | 32.14 | -3.52% |
| P/S Multiple | 0.05 | 0.00 | -98.61% |
| Shares Outstanding (Mil) | 0.24 | 0.00 | 98.35% |
| Cumulative Contribution | -97.33% |
Market Drivers
9/29/2025 to 12/29/2025| Return | Correlation | |
|---|---|---|
| GWAV | -18.3% | |
| Market (SPY) | 3.6% | 4.0% |
| Sector (XLI) | 2.5% | 26.3% |
Fundamental Drivers
The -74.1% change in GWAV stock from 6/30/2025 to 12/29/2025 was primarily driven by a -99.6% change in the company's P/S Multiple.| 6302025 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 21.23 | 5.49 | -74.14% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 33.32 | 32.14 | -3.52% |
| P/S Multiple | 0.15 | 0.00 | -99.56% |
| Shares Outstanding (Mil) | 0.24 | 0.00 | 98.35% |
| Cumulative Contribution | -99.16% |
Market Drivers
6/30/2025 to 12/29/2025| Return | Correlation | |
|---|---|---|
| GWAV | -74.1% | |
| Market (SPY) | 11.6% | -6.9% |
| Sector (XLI) | 6.8% | -12.0% |
Fundamental Drivers
The -92.8% change in GWAV stock from 12/29/2024 to 12/29/2025 was primarily driven by a -99.8% change in the company's P/S Multiple.| 12292024 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 76.41 | 5.49 | -92.81% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 33.92 | 32.14 | -5.23% |
| P/S Multiple | 0.38 | 0.00 | -99.82% |
| Shares Outstanding (Mil) | 0.17 | 0.00 | 97.66% |
| Cumulative Contribution | -99.67% |
Market Drivers
12/29/2024 to 12/29/2025| Return | Correlation | |
|---|---|---|
| GWAV | -92.8% | |
| Market (SPY) | 16.6% | -2.5% |
| Sector (XLI) | 18.9% | -5.5% |
Fundamental Drivers
The -100.0% change in GWAV stock from 12/30/2022 to 12/29/2025 was primarily driven by a -501.7% change in the company's Shares Outstanding (Mil).| 12302022 | 12292025 | Change | |
|---|---|---|---|
| Stock Price ($) | 14534.85 | 5.49 | -99.96% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 36.07 | 32.14 | -10.88% |
| P/S Multiple | 0.26 | 0.00 | -99.74% |
| Shares Outstanding (Mil) | 0.00 | 0.00 | -501.69% |
| Cumulative Contribution | -100.91% |
Market Drivers
12/30/2023 to 12/29/2025| Return | Correlation | |
|---|---|---|
| GWAV | -99.9% | |
| Market (SPY) | 47.9% | -2.1% |
| Sector (XLI) | 41.1% | -4.4% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GWAV Return | -68% | 0% | 58627% | -36% | -99% | -92% | -92% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 151% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| GWAV Win Rate | 8% | 0% | 8% | 33% | 17% | 25% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| GWAV Max Drawdown | -68% | 0% | 0% | -54% | -100% | -100% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/29/2025 (YTD)
How Low Can It Go
| Event | GWAV | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -92.3% | -25.4% |
| % Gain to Breakeven | 1205.4% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -80.5% | -33.9% |
| % Gain to Breakeven | 413.3% | 51.3% |
| Time to Breakeven | 858 days | 148 days |
| 2018 Correction | ||
| % Loss | -98.9% | -19.8% |
| % Gain to Breakeven | 9321.4% | 24.7% |
| Time to Breakeven | 948 days | 120 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Greenwave Technology Solutions's stock fell -92.3% during the 2022 Inflation Shock from a high on 7/22/2022. A -92.3% loss requires a 1205.4% gain to breakeven.
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Greenwave Technology Solutions, Inc., through its subsidiary, Empire Services, Inc., operates metal recycling facilities in Virginia and North Carolina. The company, through its 11 metal recycling facilities, collects, classifies, and processes raw scrap ferrous and nonferrous metals for recycling iron, steel, aluminum, copper, lead, stainless steel, and zinc. It is involved in the purchasing and selling processed and unprocessed scrap metals to steel mills and other purchasers. The company was formerly known as MassRoots, Inc and changed its name to Greenwave Technology Solutions, Inc. in October 2021. The company was founded in 2002 and is headquartered in Suffolk, Virginia.
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Here are 1-2 analogies to describe Greenwave Technology Solutions (GWAV):
- A smaller, regional version of Schnitzer Steel (now Radius Recycling).
- Waste Management, but focused purely on metal recycling.
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- Metal Recycling Services: Greenwave Technology Solutions provides comprehensive services for the acquisition, processing, and sale of various ferrous and non-ferrous scrap metals.
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Greenwave Technology Solutions (GWAV) primarily sells its processed ferrous and non-ferrous scrap metal and electronic waste to other companies (B2B).
According to the company's public filings (e.g., Form 10-K), Greenwave Technology Solutions has a diversified customer base, and no single customer accounted for 10% or more of its revenue during recent fiscal years. As such, specific individual "major customers" by name are not publicly disclosed. Instead, GWAV sells to a range of industrial buyers who utilize recycled materials in their production processes.
The categories of customers Greenwave Technology Solutions serves include:
- Steel Mills: Large industrial facilities that use scrap metal as a key input for producing new steel products.
- Foundries: Companies that produce metal castings for various industries by melting and shaping metals, often incorporating recycled materials.
- Smelters: Facilities involved in the extraction and refining of metals from their ores or from scrap materials through heating and melting.
- Other Recyclers and Brokers: Companies that may further process materials or act as intermediaries in the global scrap metal and recycling supply chain.
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Danny Meeks, Chairman and CEO
Danny Meeks began his entrepreneurial career at 18 by starting a hauling company, which he rapidly expanded through reinvestment of profits. Within two years, his company secured contracts for significant regional projects, including the Chesapeake Bay Bridge-Tunnel expansion. He founded Meeks Disposal Corporation in 2000, growing it to 100 trucks and 3,500 roll-off cans, and overseeing a $100 million federal subcontract for Hurricane Katrina cleanup efforts in New Orleans. He sold Meeks Disposal Corporation for $17 million in 2010. In 2004, Mr. Meeks founded Empire Services, Inc., expanding it to 11 yards and achieving $25 million in annual revenue through acquisitions and new locations. Empire Services, Inc. was subsequently acquired by MassRoots, Inc., which later became Greenwave Technology Solutions. In 2012, he founded Select Recycling Waste Services, Inc., which was awarded a federal subcontract for Super Storm Sandy cleanup in New Jersey. He sold the majority of SRWS's assets for $27 million in 2020 and the remaining assets for an additional $3 million in 2021. Mr. Meeks also started DWM Properties, LLC in 2002, through which he has built a portfolio of 106 properties valued at approximately $27 million.
Isaac Dietrich, Chief Financial Officer
Isaac Dietrich is the founder of Greenwave Technology Solutions (formerly MassRoots) and has held various leadership roles within the company, including Chief Executive Officer, Chairman of the Board, and Chief Financial Officer multiple times. He was instrumental in securing over $100 million in equity financing and cultivating a shareholder base of more than 27,000 investors. Mr. Dietrich also oversaw an acquisition that contributed $33.9 million in revenue in fiscal year 2022. He currently serves on the Board of Directors of Truleum Inc., where he chairs the Audit Committee.
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Greenwave Technology Solutions (NASDAQ: GWAV) faces several critical risks to its business operations and financial stability. The three most significant risks, in order of importance, are:- Nasdaq Delisting Risk: Greenwave Technology Solutions has repeatedly failed to comply with Nasdaq listing rules, specifically concerning the timely filing of its quarterly financial reports (Form 10-Q). The company received multiple delinquency notices from Nasdaq for unfiled reports in 2025, including for the periods ending March 31, June 30, and September 30. While Greenwave has indicated plans to appeal and aims to file the overdue reports, there is no assurance that additional time or relief will be granted. This persistent non-compliance puts the company at risk of having its securities suspended from trading and ultimately delisted from Nasdaq, which would severely impact investor confidence and access to capital.
- Significant Financial Instability and Going Concern Doubts: The company exhibits substantial financial weaknesses, including a history of losses, negative working capital, and an accumulated deficit. For instance, Greenwave reported a net loss of $58.21 million in Q1 2025 and a Q4 2024 loss of $1.55 per share, with a current ratio of 0.36, indicating that its short-term liabilities significantly outweigh its liquid assets. Management has acknowledged that these conditions raise substantial doubt about the company's ability to continue as a going concern without securing additional financing. The need for additional capital to execute its business plan, coupled with concerns about its ability to maintain sustainable operations, presents a significant risk.
- Cyclical and Volatile Scrap Metal Industry: Greenwave's core business revolves around metal recycling, an industry highly sensitive to economic conditions and characterized by the cyclical nature of scrap metal prices. Fluctuations in global markets, including tariffs and trade restrictions, can materially affect the company's operating results, revenue, and profitability. While the company anticipates benefits from expected increases in metal prices and a shift towards domestic sales, its financial performance remains vulnerable to the inherent volatility and external market forces of the scrap metal sector.
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Emerging digital platforms leveraging artificial intelligence and advanced logistics could disintermediate traditional metal recycling operators. These platforms have the potential to directly connect scrap metal generators with end-buyers (such as steel mills and foundries), offering greater transparency, efficiency, and potentially more competitive pricing for sourcing and selling scrap. This model threatens to bypass the traditional role of companies like Greenwave Technology Solutions as central aggregators, processors, and intermediaries in the scrap metal supply chain, similar to how Uber disrupted traditional taxicab businesses by connecting riders directly with drivers.
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Greenwave Technology Solutions (GWAV) operates primarily in the metal recycling industry, including the processing of ferrous and nonferrous metals, and specifically automotive shredding for end-of-life vehicles.
The addressable markets for their main products and services are as follows:
- Global Metal Recycling Market: The global metal recycling market was estimated at USD 850.04 billion in 2023 and is projected to reach USD 1,135.28 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.0% from 2024 to 2030. Another estimate placed the global scrap metal recycling market size at USD 420.83 billion in 2024, projected to grow to USD 568.76 billion by 2032 with a CAGR of 3.9% from 2025–2032.
- U.S. Metal Recycling Market: The U.S. metal recycling market size is valued at approximately USD 87.91 billion in 2025 and is projected to climb to roughly USD 121.04 billion by 2034, with a CAGR of 3.25% from 2025 to 2034. Another estimate for the U.S. scrap metal recycling market size is USD 56.04 billion in 2025.
- Global Automotive Shredded Residue (ASR) Market: The global automotive shredded residue market, which includes materials from auto shredding, was valued at USD 1.1 billion in 2023 and is projected to reach USD 1.6 billion by 2028, growing at a CAGR of 6.6% during the forecast period. North America was the largest market for ASR in 2023.
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Greenwave Technology Solutions (Nasdaq: GWAV) anticipates several key drivers to fuel its future revenue growth over the next two to three years:
- Increased Demand from US Trade Policies and Tariffs: The implementation and expected continuation of tariffs on imported steel, aluminum, and copper are projected to significantly boost the demand and pricing for domestically sourced recycled metals. Greenwave expects 75% of its 2025 revenue to stem from domestic sales, a substantial increase from 41% historically, as these trade policies reshape the global steel market. The company has raised its FY 2025 revenue guidance to $47-$50 million, anticipating 10-20% revenue growth on metal products due to these tariffs.
- Securing Government and Municipal Contracts: Greenwave continues to prioritize and successfully secure government and municipal contracts for metal recycling. Recent examples include a contract expected to generate $15–$35 million in revenue related to Hurricane Helene recovery efforts through March 2026, an exclusive government contract for recycling 550,000 pounds of non-ferrous metal estimated to add approximately $2 million to Q4 2024 and Q1 2025 revenues, and an exclusive municipal contract with Virginia Beach expected to generate over $500,000 in initial revenues.
- Strategic Positioning with New Industry Facilities: The upcoming opening of Nucor Corporation's state-of-the-art steelmaking facility in Lexington, North Carolina, with an annual processing capacity of 430,000 tons, is expected to be a transformative catalyst for Greenwave. This facility will create significant demand for Greenwave's mill-ready shred and recycled metals.
- Expansion of Customer Base and High-Volume Negotiations: Greenwave is actively engaged in negotiations with multiple entities seeking access to its high-volume supply of mill-ready metals. This indicates potential for new, significant contracts and stable revenue streams as industries increasingly focus on securing reliable, domestic supply chains for essential materials like steel, aluminum, copper, and rare-earth metals.
- Operational Efficiency and Financial Strength through Real Estate Acquisitions: The company's recent acquisition of the real estate for seven of its core facilities is expected to reduce annual rent expenses by approximately $1.7 million. This move strengthens Greenwave's balance sheet, enhances cash flow, and strategically positions the company for future growth and potential high-value strategic transactions, allowing for greater investment in revenue-generating activities.
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Share Issuance
- Greenwave raised $40,369,115 through the sale of common stock and warrants, and an additional $2,834,741 from warrant exercises during the year ended December 31, 2024.
- In January 2025, the company conducted a registered direct offering and concurrent private placement, selling approximately 7.5 million shares of common stock and accompanying warrants to raise $4 million in gross proceeds.
- A 1-for-110 reverse stock split was enacted, effective August 22, 2025, reducing the number of outstanding shares from approximately 62.8 million to about 570,858 shares to maintain Nasdaq compliance.
Outbound Investments
- In October 2021, Greenwave Technology Solutions acquired Empire Services, Inc., which led to its transition into the scrap metal industry and expanded its operations to 13 metal recycling facilities across Virginia, North Carolina, and Ohio.
- In December 2024, Greenwave acquired the real estate for seven of its core metal recycling facilities from its CEO, Danny Meeks, which is projected to reduce annual rent expenses by $1.7 million.
Capital Expenditures
- The company reported capital expenditures of -$15.92 million for the fiscal year 2024, -$1.76 million for fiscal year 2023, and -$5.94 million for fiscal year 2022.
- Greenwave is investing in a second shredder and a downstream system, which is intended to increase its ferrous metal processing capacity and improve recovery yields of various metals.
- The company plans to aggressively expand its operations by acquiring more profitable scrap yards in the coming months.
Latest Trefis Analyses
| Title | Topic | |
|---|---|---|
| DASHBOARDS | ||
| Greenwave Technology Solutions Stock Drop Looks Sharp, But How Deep Can It Go? | Return |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to GWAV. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | CNM | Core & Main | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.3% | 18.3% | -1.6% |
| 11212025 | VRRM | Verra Mobility | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.5% | 5.5% | -1.2% |
| 11212025 | LII | Lennox International | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 7.1% | 7.1% | 0.0% |
| 11212025 | ADP | Automatic Data Processing | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.9% | 2.9% | -1.2% |
| 11212025 | CW | Curtiss-Wright | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 5.7% | 5.7% | -0.4% |
Research & Analysis
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Peer Comparisons for Greenwave Technology Solutions
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 51.06 |
| Mkt Cap | 159.0 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 12.1% |
| Op Mgn 3Y Avg | 11.9% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 14.6% |
| CFO/Rev 3Y Avg | 17.1% |
| FCF/Rev LTM | 11.6% |
| FCF/Rev 3Y Avg | 12.1% |
Price Behavior
Price Behavior
| Market Price | $5.49 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 03/16/2018 | |
| Distance from 52W High | -93.6% | |
| 50 Days | 200 Days | |
| DMA Price | $6.61 | $15.62 |
| DMA Trend | down | down |
| Distance from DMA | -16.9% | -64.9% |
| 3M | 1YR | |
| Volatility | 258.3% | 11,974.1% |
| Downside Capture | -63.21 | 305.07 |
| Upside Capture | -149.44 | 0.39 |
| Correlation (SPY) | 3.7% | -2.3% |
GWAV Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.66 | 0.31 | 0.55 | -109.59 | -14.48 | -7.67 |
| Up Beta | -1.03 | 4.08 | 3.78 | 1.45 | 0.39 | 0.60 |
| Down Beta | 1.53 | 7.09 | 5.15 | 50.05 | 43.34 | 19.08 |
| Up Capture | 275% | -155% | -95% | -41% | 64% | -6% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 10 | 18 | 29 | 51 | 101 | 314 |
| Down Capture | 360% | -266% | -182% | 262% | 156% | 111% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 10 | 23 | 33 | 74 | 146 | 426 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of GWAV With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| GWAV | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -91.4% | 19.1% | 16.7% | 65.4% | 7.5% | 4.2% | -7.3% |
| Annualized Volatility | 11,879.0% | 18.8% | 19.4% | 19.8% | 15.3% | 17.0% | 34.9% |
| Sharpe Ratio | 0.98 | 0.79 | 0.67 | 2.43 | 0.27 | 0.08 | -0.06 |
| Correlation With Other Assets | -5.5% | -2.4% | -2.2% | 3.0% | -3.3% | -7.6% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of GWAV With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| GWAV | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -35.6% | 13.8% | 14.8% | 17.7% | 11.2% | 5.1% | 30.2% |
| Annualized Volatility | 190,979.6% | 17.2% | 17.1% | 15.6% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | 0.56 | 0.64 | 0.70 | 0.91 | 0.48 | 0.18 | 0.57 |
| Correlation With Other Assets | -1.4% | -3.3% | 0.4% | -3.9% | 1.4% | -2.6% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 10-Year Data
| Comparison of GWAV With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| GWAV | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -57.4% | 13.7% | 15.0% | 14.6% | 6.9% | 5.4% | 69.0% |
| Annualized Volatility | 170,878.2% | 19.9% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.50 | 0.61 | 0.72 | 0.82 | 0.31 | 0.23 | 0.89 |
| Correlation With Other Assets | -0.9% | -2.3% | 0.4% | -3.2% | 1.1% | -2.0% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2025 | 11/19/2025 | 10-Q (03/31/2025) |
| 12/31/2024 | 04/15/2025 | 10-K (12/31/2024) |
| 09/30/2024 | 11/15/2024 | 10-Q (09/30/2024) |
| 06/30/2024 | 08/19/2024 | 10-Q (06/30/2024) |
| 03/31/2024 | 05/20/2024 | 10-Q (03/31/2024) |
| 12/31/2023 | 04/16/2024 | 10-K (12/31/2023) |
| 09/30/2023 | 11/14/2023 | 10-Q (09/30/2023) |
| 06/30/2023 | 08/14/2023 | 10-Q (06/30/2023) |
| 03/31/2023 | 05/15/2023 | 10-Q (03/31/2023) |
| 12/31/2022 | 03/31/2023 | 10-K (12/31/2022) |
| 09/30/2022 | 11/14/2022 | 10-Q (09/30/2022) |
| 06/30/2022 | 08/10/2022 | 10-Q (06/30/2022) |
| 03/31/2022 | 05/16/2022 | 10-Q (03/31/2022) |
| 12/31/2021 | 04/14/2022 | 10-K (12/31/2021) |
| 09/30/2021 | 11/22/2021 | 10-Q (09/30/2021) |
| 06/30/2021 | 08/23/2021 | 10-Q (06/30/2021) |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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