The functional food market is all set to be one of the more interesting sectors in the coming years and one of the emerging leaders in that space is GenTech Holdings Inc (OTCMKTS:GTEH). However, on Monday, the GenTech stock did not get off on the right foot as it suffered from a strong selloff and ended up with a decline of as much as 14%.
Trading Data
On Monday, GTEH stock moved down 14.29% to $0.0006 with 238.12 million shares, compared to its average volume of 212.28 million shares. The stock has moved within a range of $0.0005 – 0.0007 after opening trade at $0.006.
GenTech’s Fizzique® Secures More Retailers with Initial Order from T & A Distribution
Despite the decline in the stock, it may be a good idea for investors to consider if the decline in the stock could in fact be an opportunity or not. Yesterday, the company came into focus after it announced that it had got its first distribution order for its brand Fizzique, which is expanding fast.
The order in question has been placed by a T&A Distribution location that is located in the Midwest area. It goes without saying that the first distribution order for the product is a major development for the company, but it did not lead to any optimism among investors and the stock suffered from a pretty strong selloff. At this point in time, it may be a good move from investors to consider keeping track of the stock.
Key Quote
Sales Director of the company, Kyle Brammer, commented, “My team covers all of our brands here at GenTech, from Storm and American Metabolix, to SINFIT and Fizzique. We are exploring our long-standing relationships with distributors and retailers for our original brands to help RJ and the beverage team to gain marketshare quickly. It is proving to be an incredibly lucrative strategy as the synergies are obvious.”
Technical Data
GTEH stock is above the 20-Day and 50-Day Moving averages of $0.0006 and $0.0006 respectively. However, the stock is trading below the 200-Day moving average of $0.0010.
