Holding company Global Technologies Ltd (OTCMKTS:GTLL) has seen its stock have a bit of an up and down ride in recent days. On Thursday, the stock suffered from a major selloff and ended the day with a decline of as much as 28%.
Trading Data
On Thursday, GTLL stock slid 27.78% to $0.0026 with more than 264.98 million shares, compared to its average volume of 85.54 million shares. The stock has moved within a range of $0.0026 – 0.0038 after opening trade at $0.0038.
Global Technologies, Ltd Enters Letter of Intent to Acquire Tersus Power
While the decline was substantial, it is also necessary for investors to remember that over the course of the past week, the stock is still up by as much as 37%. There was no news about the company yesterday that might have led to the selloff but back on Wednesday Global Technologies announced that it had inked a letter of intent with regards to the potential acquisition of the company Tersus Power Inc.
In this situation, it might be a good move to take a closer at Tersus Power and the nature of its business. Tersus is involved in building hydrogen fuelling stations which are not only safe but also adaptable and affordable.
Eventually, the company seeks to bring about a paradigm shift by way of which there can be much higher deployment of hydrogen fuelling infrastructure without raising the risks for investors. However, it seems that investors are not quite happy about the possibility of this acquisition at this point.
Key Quote
Michael Rosen, CEO and president of Tersus Power, stated, “We are pleased to be going public at this exciting time in the alternative energy sector. Green hydrogen is a major impact player in the world’s drive to combat climate change. Tersus Power is at the forefront of this multibillion-dollar movement with its modular hydrogen fueling station design and scaling ability to meet a global demand for green energy.”
Technical Data
GTLL stock is below the 50-Day and 200-Day Moving averages of $0.0028 and $0.0047 respectively. However, the stock is below the 200-Day moving average of $0.0025. The stock is down 10% in the past 3-month.
