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GainClients Inc. (OTCMKTS:GCLT) Stock Sees Selling Pressure At Higher Level

Madison Hall , , , ,

GainClients Inc. (OTCMKTS:GCLT) is down 8% in a week. The company announced its successful return to the OTC Market Pink Current Status. Following the announcement, it is now possible for investors to purchase and sell GainClients shares freely.

Market Stats

On Tuesday, GCLT stock decreased 3.03% at $0.0128 with more than 520.99K shares, compared to its average volume of 690.52K shares. The stock has moved within a range of $0.0112 – 0.0168 after opening the trade at $0.0168.

Becomes “Pink Current” on OTC Market

GainClients went public in 2001 and has since made significant investments to bring its disclosures current. The Securities and Exchange Commission (SEC) amended Rule 15c2-11 on September 16, 2020, modernizing rules for current markets. According to the amendment, OTC Market-listed companies were required to make their Disclosures current or face delisting. Then amendment required companies to be compliant by September 28, 2021.

The company filed the Current Status application by the June 30, 2021 closing date and filed updated Financial and Disclosures by the set deadline of September 28, 2021, and the OTC Markets updated its status to “Pink Current.” CEO Ed Laine said that attaining the “Pink Current” status will allow the company to turn its sights on onboarding new customers and working towards profitability. So, in the coming weeks, GCLT is worth watching.

Key Quote

“This was only accomplished through the hard work and diligence of our staff and accounting team. I applaud their efforts and our Shareholder’s patience while we worked through this process”, said Ed Laine, the Company’s CEO. “This allows us to return our focus to on-boarding new clients and getting to profitability. With the addition of each customer, we are also connecting to their bank. Watch for more news coming out about those relationships,” Mr. Laine went on to say.

Traders Corner

GCLT stock is trading below the 20-Day and 200-Day Moving averages of $0.0132 and $0.0129 respectively. However, the stock is trading above 200-Day moving average of $0.0119. The stock is up 33% in the past month.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.