Any kind of potential misinformation about a company may often lead to an adverse effect on its stock and that is what happened with the General European Strategic Investments Inc (OTCMKTS:GESI) stock this past Friday.
Trading Data
On Friday, GESI stock slumped 29.60% to $0.2993 with more than 3.2K shares, compared to its average volume of 239K shares. The stock moved within a range of $0.2701 – 0.3030 after opening trade at $0.2701.
General European Strategic Investments Inc. Cautions Any Interested Investors to Ensure Any Information Relied upon Comes from the Company or Authorized Information Sources
The company announced last Thursday that it had become aware of the fact that some promotional materials that had not been authorized by General European Strategic Investments, or its management, had been published. The news came as a source of significant negativity about the stock and it sank like a stone on Friday to end the day with a decline of as much as 29.50%.
Following the publication of such unauthorized promotional material, the stock was placed under ‘Caveat Emptor’ by the OTC Markets. The Chief Executive Officer and Director at General European Strategic Investments, Wolfgang Rauball spoke about the situation as well.
He noted that while the company’s management believed in fully disclosing all information, he noted that all official news will be delivered through press releases. The press releases are all posted with the OTC Markets and are also posted on the social media accounts which are maintained by General European Strategic Investments. It now remains to be seen if the stock can bounce back this week.
Technical Data
GESI stock is trading below the 20-Day and 50-Day Moving averages of $0.42 and $1.77 respectively. Moreover, the stock is trading below the 200-Day moving average of $3.38. The company has a total market capitalization of $90.98 million.
