“Short Alert and Potential Short Squeeze” for Mass Megawatts WORCESTER, Mass., Sept. 26, 2022 (GLOBE NEWSWIRE) -- Mass Megawatts (OTC: MMMW) www.massmegawatts.com has a substantial short interest in its common stock with a potential for short squeeze activity in its stock. A short squeeze happens when short sellers cover their short positions when a stock moves higher. Sometimes, they are forced to cover their positions with margin calls. As a result, there is upside pressure on the company’s common stock.
Mass Megawatts is developing a patented pending, Mass Megawatts ‘Solar Tracking System’ (STS) which is designed to automatically adjust the position of solar panels throughout the day to receive an optimal level of direct sunlight. Unlike other solar tracking technologies, the Mass Megawatts STS utilizes a low-cost structure that adds stability to the overall system while also improving energy production levels. The STS utilizes a proprietary mechanical innovation to limit dynamic and static loading on the tracker, which can occur during periods of high wind and extreme weather. The technology reduces wind-related stresses and system downtime. The STS allows Mass Megawatts to lower the cost of material and reduce the number of solar panels needed to generate the rated capacity. Due to this advantage, Mass Megawatts STS systems can deliver more solar power production at a price similar to lower-capacity, stationary systems.
In recent news, Mass Megawatts announced completion goals for a 500 kW project to be developed at a manufacturing facility utilizing the patent pending solar tracker. The 30 percent investment tax credit and the additional 10 % adder for Brownfield development are important financing tools toward the completion of the solar project. Additionally, other recent new tax related benefits include the 2019 changes in section 179 accelerated depreciation allowing a full one year accelerated depreciation for the new roof of the facility. Previously, the depreciation would have to be taken over a thirty-year period. The 500-kilowatt, project, Mass Megawatts’ largest to date, reduces the cost of solar power, while protecting the solar units by employing a furling technology borrowed from wind technology. The technological innovation is triggered by high wind events. The technique improves the efficiency of solar arrays without adding significant additional expense.
Mass Megawatts also announced recently that it has enhanced its patent-pending, Solar Tracking technology to improve energy production levels by an additional 7%. In the company’s latest design improvement, the tracking system will also cost effectively adjust the panels based on the sun’s altitude each day. These adjustments will significantly improve the power generation level of the solar panels.
https://www.globenewswire.com/news-release/2022/09/26/2522434/0/en/Short-Alert-and-Potential-Short-Squeeze-for-Mass-Megawatts-MMMW-as-Short-Stock-Scanners-Note-Substantial-Short-Activity.html