Lobe Sciences Ltd (OTCMKTS:GTSIF) Stock Consolidates After a 30% Jump Last Week

Lobe Sciences Ltd (OTCMKTS:GTSIF) stock closed almost flat despite the news. However, the stock has been gaining momentum over the past week with a jump of 30%.

Market Action

In the previous trading session, GTSIF stock fell 0.67% at $0.0516. A total of 205K shares traded for the session hands, below its average volume of 257K shares. The stock opened at $0.0562 and moved in a range of $0.0472 – 0.0562.

Key Trigger

Lobe Sciences and the World Boxing Association Announce Initiative Targeting mTBI and PTSD

announce that the Company plans to develop and launch a global registry for the identification and long term management of current and former boxers with mTBI and PTSD in partnership with the World Boxing Association.

The World Boxing Association (the “WBA”), formerly known as the National Boxing Association (“NBA”), is the oldest of the four major organizations which sanction professional boxing bouts. Led by its longest serving President, Gilberto Jesus Mendoza, the WBA is committed to identifying and implementing more effective management and treatment of mild traumatic brain injury (“mTBI”).

President Mendoza stated, “It is no secret that a boxing match is highlighted by skillful defense and aggressive, sometimes violent offensive attacks. From the beginning the WBA has known that a number of our members suffer from the short and long-term effects of varying degrees of mild traumatic brain injury associated with their time competing in the ring. We believe in the promise of the resurgence of psychedelic medicine and are proud to be collaborating with Lobe as we work together to improve the lives and health of members of the WBA family.”

Trader Notes:

GTSIF stock is trading above all the key moving averages with 200-day and 50-Day SMA stand at $0.0935 and $0.0539 respectively. The stock has fallen 49% so far this year.