The announcement of the financial for the third quarter that ended on September 30, 2021 piled further pressure on the Global Arena Holding Inc (OTCMKTS:GAHC) stock and resulted in a decline of 5%. The decline on Friday took the losses for the whole of last week to as much as 21%.
On Friday, GAHC stock decreased 5.26% at $0.0018 with more than 27.81 million shares, compared to its average volume of 19 million shares. The stock has moved within a range of $0.0016 – 0.0020 after opening trade at $0.0019.
It now remains to be seen if the stock can make a recover this week. However, in order to get a better idea about the acquisition focussed company, it might be a good move to perhaps take a look at some of the highlights from its financial results.
Global Arena Holding managed to generate revenues of as much as $189,728, which worked out to a rise of as much as 39% year on year from the revenues of $136,035 that it had generated in the prior year period.
The revenues for the first nine months of 2021 came in at $774,989 and that worked out to a healthy rise from the $476,701 that Global Arena Holding had generated in the prior year period. The losses suffered from operations actually declined by as much as 26% year on year to hit $231,381 for the quarter.
John S. Matthews, the Company’s Chairman, stated, “We entered 2021 having had set a course we anticipated would lead towards increased revenues, a decrease in convertible debt, reductions in net losses, and visible growth opportunities at GES. I am very happy with our current progress and can confidently say, I believe we will meet and possibly exceed our expectations for 2021.
GAHC stock is trading below the 20-Day and 50-Day Moving averages of $0.0023 and $0.0025 respectively. Moreover, the stock is trading below the 50-Day moving average of $0.0037. The stock is down 14% in the past 3-month.