There were a number of stocks which ended the week strongly this past Friday and one of the more notable gainers on the day was the Vortex Brands Inc (OTCMKTS:VTXB) stock.
Trading Data
On Friday, VTXB stock soared 51.50% to $0.0106 with more than 46.72 million shares, compared to its average volume of 1.36 million shares. The stock has moved within a range of $0.0072 – 0.0275 after opening trade at $0.0075.
Vortex Brands Announces 25-for-1 Forward Stock Split
The stock came into sharp focus among investors on Friday and ended the day with whopping gains of as much as 51% as investors piled on to it in a big way. In this context, it may be a good move from investors to take a look at the announcement from the company on Friday that led to such a rally.
The company announced that it was on the verge of executing a plan by way of which it was going to have a forward share split. As per this share split plan, the company is going to offer as many as 25 common shares in Vortex for a solitary share that may be owned by an investors.
Such a move generally leads to pessimism and an eventual selloff in the stock, but that did not happen with the Vortex stock on Friday. It now remains to be seen if the stock can manage to hold on to its momentum and add to its gains this week.
Technical Data
VTXB stock is trading above the 10-Day and 20-Day Moving averages of $0.0082 and $0.0096 respectively. Moreover, the stock is trading above the 10-Day moving average of $0.0080.
