After having gone through a rollicking rally in the previous days, the Global Tech Industries Group (OTCMKTS:GTII) stock corrected sharply on Tuesday and ended the day with a decline of as much as 12%.
Trading Data
On Tuesday, GTII stock slid 12.25% to $1.79 with 165k shares, compared to its average volume of 312K shares. The stock has moved within a range of $1.6700 – 2.0700 after opening trade at $2.07.
Provides Notice to Warrant Holders Regarding Exercise by Wire or Automated Clearing House (ACH)
While the decline was significant, it should be noted that the stock is still up by as much as 35% in the past week. In this situation, it may be a good time for investors to consider taking a look at the announcement made by the Global Tech Industries Group on Tuesday. The company announced on Tuesday that it had made an update to the warrant exercise instructions for the warrants that had been received up until April 1, 2021.
It was also announced by the company that those hold warrants would be able to get a copy of the new instructions from the Global Tech Industries Group websites.
They will also get the Election to Purchase Warrant Shares option from the website. It was an important announcement from the company but the news did not lead to any kind of optimism among investors and it got the thumbs down from investors. It remains to be seen if the Global Tech Industries Group stock can make a recovery today.
Technical Data
GTII stock is trading above the 20-Day and 50-Day Moving averages of $1.51 and $1.08 respectively. Moreover, the stock is above 200-Day moving average of $1.51.
