Mitesco Inc (OTCMKTS:MITI) Stock Continues to Trend Lower

Yesterday Mitesco Inc (OTCMKTS:MITI) was in focus after came up with an update for its shareholders as it was moving forward with its long term strategy to acquire businesses in the healthcare space but mainly related to services and technology.

Trading Data

On Tuesday, MITI stock fell 11.71% to $0.8210 with more than 8.19K shares, compared to its average volume of 6.72K shares. The stock moved within a range of $0.8200 – 0.9438 after opening trade at $0.9299.

Mitesco Moves Emphasis to Acquisitions & Strategic Initiatives

The company noted that it had been involved in a project related to progressing the reshaping of business operations of The Good Clinic so as to align the operations with the dynamics of the contemporary capital markets. To that end, Mitesco had recently provided a disclosure of its incremental financing arrangements with its historical investors and that was all noted in the Form 8K that had been filed back on April 18, 2023. Mitesco noted that it had continued that process.

Larry Diamond, the Chief Executive Officer of the company, noted that the company had been structured in the form of a holding company since its inception.

The ultimate goal of the company has been to make acquisitions  of companies, grow them and when the time was right, spin those companies out to the Mitesco shareholders as dividends. He went on to add that he recognized the value that was brought to the company by its considerable shareholder base.