Gold River Productions Inc (OTCMKTS:GRPS) Stock Jumps 11% After A Key Update

There were plenty of stocks which managed to end the day with significant gains and one of those was that of Gold River Productions Inc (OTCMKTS:GRPS).

Trading Data

On Monday, GRPS stock was up 11.11% to $0.0060 with more than 5.62 million shares traded, compared to its average volume of 1.87 million shares. The stock has moved within a range of $0.0048 – 0.0067 after opening trading at $0.0054.

Gold River Productions, Inc. is now an official Government Contractor

Yesterday, the Gold River stock came into considerable focus after the company announced that it been successful in fulfilling its requirements and had managed to become a United States Government contractor officially. It goes without saying that it was a major development for Gold River and naturally, the market reacted positively to the news as well. After the announcement, investors piled on to the stock in a big way and the Gold River stock ended the day with gains of as much as 11%.

At this point, the company is qualified to work with a range of government departments for the acquisition of its products and services. In other words, Gold River is going to deal with different government departments directly from now on and it goes without saying that it is a major coup for the company. The rally in the stock was an indication of the fact that the market welcomed it as well. It now remains to be seen if the Gold River stock can add to its gains today.

Key Quote

“We were awarded our SAMS registration (System Award Management), qualifying Gold River to contract directly with departments within the federal government for our current products and initiatives, and others,” says Sam Elias, Chief Revenue Officer of Gold River Productions.  “Getting approval and being part of the Federal Contractor Registry is a significant step in culmination of our work,” he added, “and we intend to make the most of this opportunity.”

Technical Data

GRPS stock is trading below the 20-Day and 50-Day Moving averages of $0.0068 and $0.0089 respectively. However, the stock is trading below the 200-Day moving average of $0.0114. The stock is down 35% in the past month.