Ethema Health Corporation (OTCMKT:GRST) Stock Pulls Back On Profit Booking
Ethema Health Corporation (OTCMKT:GRST) fell 11%, but the stock is up 60% in a week. New Directions Behavioral Health, LLC executed a contract amendment with the company on March 1, 2022, permitting an increase to the agreed sums between the two companies.
Market Stats
On Wednesday, GRST stock fell 11.11% to $0.0008 with more than 67.82 million shares, compared to its average volume of 24.85 million shares. The stock moved within a range of $0.0007 – 0.0010 after opening trading at $0.0009.
Ethema’s ARIA Treatment Center Receives Rate Increases
The increase was allowed due to increasing healthcare worker costs and program-related costs such as meals and transportation. On the different categories of care that the company charges out, the hikes ranged from 6% to 17%. This is noteworthy because New Directions accounts for nearly 97 percent of Ethema Health’s revenue. As from April 10, 2022, the new tariffs will take effect.
CEO Shawn Leon stated that they are delighted with New Directions’ response and recognize the marketplace’s growing costs. He added that the increase would ensure the company continues to provide quality services to its clients. Therefore in the coming weeks, investors should keep an eye on GRST.
Key Quote
Mr. Shawn Leon, Company CEO, reported, “We are very pleased with the response from New Directions and recognizing the rising costs in the marketplace. These increases will ensure that we can continue to offer quality service to the clients we serve.”
Traders Corner
GRST stock is above the 20-Day and 50-Day Moving averages of $0.0007 and $0.0008 respectively. The stock is trading in the neutral zone with the RSI at 52.
