GenTech Holdings Inc (OTCMKTS:GTEH) stock Moves in a Tight Range: What Next?
When a stock moves in a range, it does not always mean that the stock is supposed to be ignored. In fact, it might be the right time to look into it and see if there is a possibility of a breakout.
The GenTech Holdings Inc (OTCMKTS:GTEH) stock has been trading within a range for quite a while and hence, it might be a good idea to look into the functional foods marketplace company a bit more closely. Last week, the company made a major announcement, in which it revealed that it was close to reaching an agreement with regards to the acquisition of a 75% controlling stake in the company Nature Spoon LLC.
Nature Spoon is best known for having developed the brand Nature Soothie, which is currently associated with a herbal supplement lollipops meant for children.
At this point in time, the products manufactured under the Nature Soothie brand are distributed by UNFI. In this regard, it is also necessary to keep in mind that the products are in fact available in most of the well known health stores across the United States. It could prove to be an important acquisition for GenTech Holdings in the long run.
Market Reaction:
On Monday, GTEH stock ended flat at $0.0007 with more than 1.10 billion shares, compared to its average volume of 443.56 million shares. The stock has moved within a range of $0.0005 – 0.0007 after opening the trade at $0.0007. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0189.
