The functional foods market has emerged as a significantly important sector for many investors and one of the companies that you could consider looking into from the sector is GenTech Holdings Inc (OTCMKTS:GTEH). It is fast emerging as one of the leaders in the functional foods space at this point.
Trading Data
On Friday, GTEH stock ended flat at $0.0006 with more than 119.94 million shares traded, compared to its average volume of 183.87 million shares. The stock moved within a range of $0.0005 – 0.0006 after opening trading at $0.0006.
GenTech’s Nature Soothie® Children’s Soothing Lollipops Reaches Major Milestone
While it is true that the stock was trading within a range on Friday, it may be a good idea for investors to note that on that day the company had actually been in the news. The company announced on that day that Natural Soothie, which is currently among the fastest growing brands in the GenTech stable, had managed to sell over 100000 units since August last year.
The timeline is important since it was in August last year that GenTech had become the majority owner of Natural Soothie. The strong sales number recorded by the product was certainly a major piece of news but it did not move the needle much for investors. As a result, the stock remained in a range. It is now going to be interesting to see if there is any change of heart among investors this week.
Key Quote
Leonard K. Armenta Jr., CEO of SINFIT Nutrition, Inc. commented that “The growth we are seeing from Nature Soothie, not only in independent chains, but also in Whole Foods and Sprouts is incredible, and I am hugely proud of what the team has achieved with this brand in such a short time, in both absolute numbers and in market penetration across the US. With Sprouts and Whole Foods now stocking our products we see the growth in this brand really being a surprise star of 2022.”
Technical Data
GTEH stock is trading below the 50-Day and 200-Day Moving averages of $0.0006 and $0.0006 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.0009.
