This morning more and more investors are going to be looking into those stocks which may have clocked considerable gains on Monday and by that token, one of the stocks that could be worth tracking could be Citrine Global Corp (OTCMKTS:CTGL). The stock had come into considerable focus among investors on Monday and ended up with gains of as much as 42% amidst heavy interest. Considering the sheer magnitude of the gains, it may be a good time for investors to figure out if the stock is going to keep adding to its gains over the coming days or not.
Trading Data
On Monday, CTGL stock surged 41.67% to $0.0170 with 13K shares, compared to its average volume of 4.9K shares. The stock moved within a range of $0.0170 – 0.0180 after opening trade at $0.0180.
About Citrine Global Corp
The company is involved in the plant-based wellness and pharmaceutical solutions spaces. The company is involved in the development of plant-based products which can help in enhancing the quality of life of its customers. In addition to that, those products are also meant for curtailing the side effect of traditional medicines. In the past, the company had been known as TechCare but back in August of 2020, it changed its name to Citrine Global Corp.
The company had actually been established back in 2020 and is based out of Herzliya in Israel. Now that you have a fair idea about the nature of the company and its objective, it is now time to take a look at the announcement that led to the strong rally in the Citrine Global stock on Monday.
Citrine Global Corp. (OTCQB: CTGL) Announced its Subsidiary Files Provisional Patent Application
The company announced yesterday that CannovationCenter Israel Ltd, its subsidiary unit had filed a patent application to the United States Patent and Trademark Office. The patent in question is for the treatment, mitigation, and amelioration of the side effect that may be seen in a patient’s oral cavity owing to aging, usage of certain medicines, and leading an erratic lifestyle. The application that has been made by Cannovation is meant for bringing about solutions that are going to work on the development of solutions to side effects brought about by oral cavities.
The patent application is also consistent with Citrine Global’s goal of bringing about plant-based pharmaceutical and wellness solutions that could combat the wide range of side effects that a patient can suffer from. The side effects of oral cavities are quite common and a patent application specifically targeted at those is a significant development. The excitement among investors with regards to the development is hence understandable. It is now going to be interesting to see if the Citrine Global stock can continue to add to its gains today or not.
In this context, it is perhaps also important to point out that not too long ago, Citrine Global had also been successful in the development and launch of the SmokyLy sprays. The sprays in question are meant for battling the side effects brought about by oral dry mouth cavities. It is also planning to develop additional lines of products in the near future and that is something investors could do well to keep an eye on.
Technical Data
CTGL stock is trading above the 20-Day and 50-Day Moving averages of $0.0142 and $0.0164 respectively. However, the stock is trading below the 200-Day moving average of $0.0328. The company has a total market capitalization of $16.02 million. The stock is up 70% over the past 3-month.
