The penny stock of AbTech Holdings, Inc. (OTC: ABHD), an environmental technologies and engineering firm, should pay homeage to Wayne Huizenga today. ABHD stock is has already traded $107,869 volume on 153,069 shares traded. The CEO, President and Founder of Huizenga Holdings, Wayne Huizenga, began his empire with Waste Management Inc. (NYSE: WM) by, rumor has it, hauling off trash from New York and New Jersey to the Carolinas for the Mafia in the 60’s and 70’s.
Why Thank Wayne? Because Waste Management and AbTech Holdings will team up with municipalities to design, build, operate and service stormwater infrastructure. There would never have been Blockbuster Video, no Florida Marlins (now the Miami Marlins), no Florida Panthers NHL team, no Year of the Rat, no Florida Panthers Inc. (Nasdaq: PUCK) IPO back in 1998 that went from $10 to $31.25, a gain of 212.50% in less than 30 trading days, if not for Wayne Huizenga.
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ABHD Stock Chart
Market Cap (intraday): 34.42M
(Mar 7, 2012): 1.05
(Jun 20, 2011): 0.25
Avg Vol (3 month): 188,095
Avg Vol (10 day): 104,900
Shares Outstanding: 48.48M
% Held by Insiders: 14.83%
One year after announcing their pilot program with AbTech, Waste Management is transitioning to commercialization with its stormwater solutions. Along with stormwater solutions, the commercialization program offers the potential to include finance alternatives for the municipal infrastructure.
Under WM‘s stormwater program offering, ABHD will provide and deploy stormwater treatment technologies, deploying both their own technologies and other commercially available engineered systems, teaming with WM and municipalities. The program offering will also include stormwater needs assessments, design of stormwater control measures and ongoing servicing and maintenance of the stormwater infrastructure.
Bottom Line: ABHD now got its name in the news and can return to being one of those penny stocks that only long-term investors look for: a real company with a real futures. For more info about ABHD stock, visit www.abtechindustries.com.
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