The nutritional supplement and functional foods industries have grown at an impressive pace in the past few years and if you are looking to invest in stocks involved in those sectors, then it might be a good move to start tracking GenTech Holdings Inc (OTCMKTS:GTEH).
Market Reaction:
On Monday, GTEH stock jumped 9% at $0.0008 with more than 477.98 million shares, compared to its average volume of 291.87 million shares. The stock has moved within a range of $0.0007 – 0.0009 after opening the trade at $0.0008.
Major Trigger
Yesterday, the company provided it released its financial performance data for the year up until date and on top of that also provided a snapshot of some of its objectives in the near future. The development came as a major boost to the company’ stock and it ended the day with gains of as much as 9%.
The provisional revenues for the nine months that ended on September 30, 2021 from its operations came in at $745,900. In this regard, it is perhaps also interesting to note that GenTech’s recent acquisition American Metabolix Inc also managed to kick in as much as $108,000 in the form of revenues during the first full month.
The additional revenues are clearly a boost and the management at GenTech has also stated that in light of that, it believes that the revenues for the full year are going to hit $1.3 million if the run rate remains the same.
