If you are looking into stocks today, then it could be a good idea to perhaps start tracking the Global Fiber Technologies Inc (OTCMKTS:GFTX) stock, which has emerged as one of the major movers in recent days. This past Friday, the stock continued to be on the radars of investors and ended up clocking gains of as much as 69% amidst heavy interest.
Trading Data
On Friday, GFTX stock moved up 69.35% to $0.0052 with more than 27.24 million shares traded, compared to its average volume of 8.53 million shares. The stock has moved within a range of $0.0029 – 0.0052 after opening trading at $0.0032.
Authentic Heroes and Maestro Entertainment Corp., Sign Letter of Intent to Create Music NFT Bundles
That took the gains made by the Global Fiber Technologies stock in the past week to a remarkable 105%. Despite the massive gains, it is necessary to note that there has been no news at all about the company in recent weeks.
The last time there was any news about the company was back on November 15, 2021 when it made an announcement through Authentic Heroes Inc , its fully owned subsidiary company. It was announced that Authentic Heroes had signed a letter of intent with regards to the formation of a joint venture with the firm Maestro Entertainment.
By way of this partners, Authentic Heroes will get access to more than 10000 master recording and also get to take advantage of the industry relationships that Maestro has. However, it is still unclear if the rally was related to this development.
Key Quote
Chris Giordano, President and Chairman of Global Fiber Technologies stated: “Taking classic recordings and turning them into collectible “NFT bundles” that include both an NFT and remastered Vinyl albums is how both parties look to bring to market a unique value package for the collector community. We further that by giving collectors the provenance and immutability on our blockchain that will preserve their value and rightful ownership.
Technical Data
GFTX stock is above the 20-Day and 200-Day Moving averages of $0.0032 and $0.0039 respectively. Moreover, the stock is trading below the 50-Day moving average of $0.0040.
