Despite positive developments, Ethema Health Corporation (OTCMKTS:GRST) could not impress investors much and its stock ended up tanking by as much as 13% amidst a selloff.
Trading Data
On Monday, GRST stock slid 12.50% to $0.0007 with 60.61 million shares, compared to its average volume of 22.22 million shares. The stock moved within a range of $0.0007 – 0.0009 after opening trade at $0.0008.
Ethema Files 10K and Reports Positive Revenue Growth
However, it may still be a good idea for investors to take a look at the developments from yesterday and then make up their minds. The company filed its 10K for the 2021 year end and more importantly managed to record positive growth in revenues for the fourth fiscal quarter of 2021. In addition to that, it is also necessary to keep in mind that the fourth quarter revenues from its subsidiary unit ARIA were 20% higher than the revenues that were generated in the third quarter.
The positive growth in revenues allowed Ethema Health Corporation in offsetting the start-up losses that it had suffered in the first quarter. Despite the fairly positive state of affairs, it did not lead to any bump in the stock price and in fact the stock slumped amidst a fairly strong selloff.
At this point in time, it may be a good idea for investors to keep an eye on the price action in the stock price and also stay abreast of the latest developments.
Key Quote
Mr. Shawn Leon, Company CEO, reported, “While there are many positive events for the Company to talk about, our revenue growth for ARIA is a standout. The revenue improvements are a direct result of building a reputation of quality care. We have reduced marketing spend significantly which helps improve the bottom line. It is early in the second quarter but we expect the revenue growth to continue due to the expected increase in the available beds.”
Technical Data
GRST stock is below the 20-Day and 50-Day Moving averages of $0.0008 and $0.0007 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0015.
