Golden Triangle Ventures Inc (OTCMKTS:GTVH) Stock Consolidates After The Sharp Fall

If you are looking into the performance of stocks over the past week then you might have come across the poor performance from the Golden Triangle Ventures Inc (OTCMKTS:GTVH) stock.

Trading Data

On Wednesday, GTVH stock jumped 1.67% at $0.0305 with more than 252k shares, compared to its average volume of 1.47 million shares. The stock has moved within a range of $0.0290 – 0.0325 after opening trading at $0.0307.

Corporate Update on Sonder Fulfillment

Over the course of the past week, the stock has suffered from a significant selloff and declined by as much as 13% as a consequence. While the decline may be significant, it may be a good move to take a look at the update provided by the company yesterday with regards to its fully owned subsidiary company SonderFulfillment. The subsidiary had been acquired in its entirety by Golden Triangle back in June this year.

Sonder is involved in promoting some of the strongest as well as effective CBD products in the globe. In its update yesterday, Golden Triangle announced that over the course of the past three months, SonderFulfillment has been working diligently to secure significant relationships and on the creation of new sources of revenue. In addition to that, Sonder has also been looking into significant opportunities in the emerging markets. Although the Golden Triangle stock has declined in the past week, the latest announcement is a significant one and it remains to be seen if it has an effect on its stock.

Key Quote

Steffan Dalsgaard, CEO of Golden Triangle Ventures, states, “I have been working side-by-side with the executive staff of Sonder Fulfillment over the past three months and am beyond impressed by their diligence and resolve to firmly entrench themselves as leaders in the industrial hemp and white label cannabinoid industry. They have provided significant value to the Company in every one of our divisions since being acquired.”

Technical Data

GTVH stock is trading below the 20-Day and 50-Day Moving averages of $0.0400 and $0.0550 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1750. The stock is down 47% in the past month.