Global Tech Industries Group Inc (OTCMKTS:GTII) Stock Takes a Hit After Recent Move

Not too long ago the Global Tech Industries Group Inc (OTCMKTS:GTII) stock had gone on a rally but this past Friday it corrected sharply and went down by as much as 22% amidst a heavy selloff. In this context, it may be a good idea for investors to perhaps take a look at the announcement that was made by the company on Friday.

Trading Data

On Friday, GTII stock fell 21.84% to $3.9000 with 2.86 million shares, compared to volume of 1.47 million shares. The stock moved within a range of $3.7899 – 4.9700 after opening trade at $4.9700.

Global Tech Industries Group, Inc. Updates its Website

Global Tech Industries announced on that day that it had made updates to its corporate website so as to provide shareholders with an easier explanation with regards to the task of exercising their warrants. While the move from Global Tech Industries could be considerably helpful for warrant holders, the news did not elicit any positivity among investors and the stock dived amidst a selloff.

In the announcement on Friday, the company asked its shareholders to visit its website and then follow the instructions which would eventually take them to the warrant exercise form. Global Tech Industries also noted that once the warrant holders find the form, they should download it and fill it up. Eventually, they would need to email the form to Liberty Stock Transfer Inc, which is the company’s transfer agent.

Technical Data

GTII stock is trading above the 20-Day and 50-Day Moving averages of $3.82 and $1.84 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.47.