AEI Stock Price Increased 24.64%: Why It Happened

By Amit Chowdhry ● June 22, 2021
  • The stock price of Alset EHome International Inc. (NASDAQ: AEI) increased 24.64% yesterday. This is why it happened.

The stock price of Alset EHome International Inc. (NASDAQ: AEI) increased 24.64% yesterday. Investors are responding to major news from the company. 

Alset EHome — which is a US-based property developer — had announced a strategic agreement with Tesla for an initial supply of Tesla PV Solar Panels, Powerwalls, and EV Chargers to be installed at single-family homes (“Ehomes”). 

The Tesla products will be installed in 20 brand new single-family homes at the Northpark Community in Porter, Texas. And in addition to these 20 homes, Alset has 10 more homes under contract in the same community scheduled for closing at the end of this month. Going forward, there are plans to acquire an additional 70 units in the Houston area, targeting a total of 100 Ehome deliveries in 2021.

The homes in the first phase of one of Alset’s flagship developments Alset at Black Oak are nearly sold-out. And Alset is striving to build a sustainable energy community with Ehomes featuring Tesla Solar PV Roof Panels, Tesla Powerwall, and EV Chargers. And a total of 650 homes are planned for this development, located in Magnolia, Texas, north of Houston.

The community is going to integrate a clean energy ecosystem encompassing housing, transport, and electricity. And it will include an amenity center featuring organic, modular/vertical vegetable farming, a café, visitor residences, infant/childcare clubs, and social events venue. Plus future homes will be built with energy-efficient platforms supporting clean, sterilized airflow, and advanced communication systems. Each Alset Ehome will come with a Tesla vehicle to promote the use of electric vehicles for a sustainable lifestyle.

KEY QUOTE:

“We are delivering what we believe will be the model housing ecosystem of the future. As more people look to make sustainable choices in their selection of homes, we are keen on making the transition for our customers the easiest it can be. This will also help accelerate the world’s transition to sustainable energy.”

— Charley MacKenzie, the US CEO of Alset Ehome, Inc.

“Our plan is to develop over 5,000 intelligently designed Ehomes in the next 3-5 years. We are excited to develop the communities of the future in close collaboration with Tesla. Tesla’s products are not only technologically superior but also aesthetically pleasing. In addition to our rollout in the US, we plan to expand our concept on a global scale.”

— Chan Heng Fai, Chairman and Chief Executive Officer of Alset EHome International Inc.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.