Although it was a momentous day for Green Globe International Inc (OTCMKTS:GGII) on Wednesday, the situation with the company’s stock was not that great as it ended the day with a decline of as much as 20%. On Tuesday, the company’s majority-owned subsidiary unit Hempacco completed its first day of trading on NASDAQ and it goes without saying that it was a significant development.
Trading Data
On Wednesday, GGII stock slid 20.41% to $0.0039 with more than 198.25 million shares, compared to its average volume of 42.72 million shares. The stock moved within a range of $0.0036 – 0.0054 after opening trade at $0.0047.
Green Globe Congratulates Hempacco for Its First Day of Nasdaq Trading
As it happens, Green Globe also congratulated Hempacco for the same. Hempacco is an entity that is involved in disrupting the $1 trillion tobacco industry by smoking paper, hemp-based cigarettes, and myriad other products. All those products are meant for disrupting the tobacco industry.
Hence, it could be said that a massive market exists for those products and if it succeeds then it could be a big boost to Green Globe as well in the long run. The shares of Hempacco started trading on NASDAQ on August 30, 2022, under the ticker symbol HPCO. The shares closed at $7.78 a share on the first day but it is interesting to note that on the first day of trading the shares had hit a high of as much as $41.80.
Technical Data
GGII stock is trading below the 20-Day and 50-Day Moving averages of $0.0038 and $0.0023 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0024. The company has a total market capitalization of $211.41 million.
