AgTech Global International (OTCMKTS:AGGL) Stocks Makes a Big Move After The News
AgTech Global International (OTCMKTS:AGGL) stock was one of the biggest gainers in Thursday’s trading session.
Market Action
In the previous trading session, AGGL stock soared 28% to $0.23. A total of 3k shares traded for the session hands, below its average volume of 21k shares. The stock opened at $0.21 and moved in a range of $0.1577 – 0.2300.
Key Trigger
Agtech’s City Farm Industries Joint Venture Announces its First Multi-Span Greenhouses arrive from China
Agtech Global International Inc. (Agtech) (name change to Galexxy Holdings Inc. in process) (OTC: AGGL) previously announced on September 7, 2021 that it had entered into a Joint Venture with City Farm Industries Inc., for large scale cultivation of Hemp for CBD extraction and supply.
Under the terms of this Joint Venture, City Farm Industries (CFI) will be establishing and managing a minimum of 4 cultivation “PODs” comprising a total of 32 multi-span greenhouses (320,000 square feet) on 300 acres of land dedicated to the Joint Venture.
CFI has advised Agtech that the first 2 multi-span greenhouses have arrived from China and are due for unloading at the port of Los Angeles, to be trans-shipped to CFI’s
Key Quote:
CFI is holding Letters of Intent for sales of up to 20,000 lbs., of Hemp flower per month and once fully operational the PODs are projected to return a profit to Agtech of $10,000,000 per year.”
Trader Notes:
AGGL stock is trading well below all the key moving averages with 50-day and 200-Day SMA stand at $0.33 and $0.37 respectively – signaling a weak momentum. However, RSI stands at 49 – trading in the neutral zone.
