On Monday, the GBT Technologies Inc (OTCMKTS:GTCH) stock had been in the middle of a bit of an upward move and had ended up with gains of as much as 8.50%. In light of this situation, it may be a good time for investors to consider taking a look at a key development from yesterday.
Trading Data
On Monday, GTCH stock surged 8.60% to $0.1466 with more than 159k shares, compared to its average volume of 156K shares. The stock moved within a range of $0.1200 – 0.1550 after opening trading at $0.12.
GBT Commenced Operations of It E-Commerce Platform
The company announced yesterday that it had gone into a revenues sharing agreement with a third party for the purpose of testing its artificial intelligence platform. The platform in question is known as AVANT AI and it is meant for identification of opportunities for sellers when it comes to the biggest e-commerce platform in the world.
The testing activities under the provisions of the revenue sharing agreement had actually been started by the company back on March 1 this year. It goes without saying that it was a significant move from the company and it now remains to be seen if the GBT Technologies stock can continue to make an upward move over the course of the coming days. It may be a good idea for investors to consider adding the stock to their watch lists and keep an eye on developments.
Key Quote
“We were pleased to announce this new stream of revenue. As a reminder, we entered into a revenue sharing agreement for a term through the end of the year with an option to extend for additional terms. This opportunity may allow us to expand our operations to different domains, which potentially can complement our products when and if introduced to the market. Currently, we operate the e-commerce platform from West Hollywood, California and we are selling currently in the United States, Canada, Mexico and Brazil” provided Mansour Khatib, the Company’s CEO.
Technical Data
GTCH stock is trading below the 20-Day and 50-Day Moving averages of $0.17 and $0.18 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.43.
