On Monday, the GenTech Holdings Inc (OTCMKTS:GTEH) stock may have been trading in a range but considering the fact that the company is emerging as a major player in the functional foods market, it may be a good idea to start tracking it.
Trading Data
On Monday, GTEH stock ended flat at $0.0006 with 999.04 million shares, compared to its average volume of 194.63 million shares. The stock moved within a range of $0.0004 – 0.0006 after opening trade at $0.0006.
GenTech Holdings, Inc. has Record Setting January with American Metabolix® Leading the Pack
As a matter of fact, the company was in fact in the news yesterday after it announced that it had experienced growth in all its brands in the month of January. In particular, GenTech noted that its ‘Storm’ unit managed to record consistent and progressive growth. On the other hand, the company also noted that the American Metabolix product was the biggest seller from among all the brands that are promoted by GenTech.
GenTech announced that the product managed to generate sales to the tune of as many as 3000 units across the range of its offerings. The President of the company Leonard Armenta spoke about the performance as well. He stated that although it was gratifying that American Metabolix continued to record strong sales numbers, it was the performance from the newest brand Storm that was one of the major positives for the company. Investors could do well to keep the stock in their sights this week.
Key Quote
Leonard Armenta, GenTech’s President, commented that “it’s so exciting to see that whilst our industry leading brand American Metabolix® still leads the way in sales, it is the new boy on the block, Storm™, who is second. I was not at all surprised to see that STORM’s Pre-Workout Blue Raspberry Rage was the third-biggest selling item by unit numbers in January. For such a young brand to be growing so quickly is incredible. It won’t be long before Fizzique and Storm are fighting for that top spot in the company of most units sold.”
Technical Data
GTEH stock is trading below 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 $0.0009.
