GenTech Holdings (OTCMKTS:GTEH) Stock Falls From The Peak: Now What?
Publicly traded company owning and operating leading functional foods brands, GenTech Holdings (OTCMKTS:GTEH) on July 22, 2021 announced closing an agreement for acquiring a 75% controlling stake in Nature Spoon LLC, a company producing supplement lollipops named Nature Soothie for children.
Currently, Nature Soothie productsare distributed through UNFI. They are sold in top food stores across the country, including Whole Foods Market and Sprouts Farmer’s Market. The products are also sold on its website as well as Amazon store.
Offering diverse herbal supplements for children, the products address specific everyday health needs and the lollipops are made of 100% natural ingredients, including organic honey and herbal extracts like peppermint, chamomile, black elderberry and passionflower.
All its products are delicious with just 4g of natural sugar besides being gluten-free and no artificial colours or preservatives.
Leonard Armenta, President of GenTech& CEO of SINFIT Nutrition, said that as the company continues expansion of Sinfit roll-up strategy, it is aiming to target brands having market-leading quality. Armenta said that the products should be a complementary fit in the firm’s ecosystem and remarked that Nature Soothiedefinitely satisfies the criteria, with incredible products targeting critical segment of the market – children.
Sinfit had recently announced acquisition of NxtBar, MBP Snacks, Fizzique and Yourganics and even Premium Coffee Brand ‘Secret Javas’.
Market Reaction:
On Thursday, GTEH stock was down 14.30% at $0.0006 with more than 1.87 billion shares, compared to its average volume of 435.81 million shares. The stock has moved within a range of $0.0006 – 0.0008 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.
