On Monday the KRTL Holding Group Inc (OTCMKTS:KRTL) was one of the companies which managed to come into focus among investors and its stock ended up with gains of as much as 3%. The company, which is involved in cross-over tradecraft and proprietary technologies related to the hemp, cannabis and alternative wellness sectors made an announcement yesterday.
Trading Data
On Monday, KRTL stock gained 2.94% to $0.0350 with 4.49 million shares, compared to volume of 288.74K shares. The stock moved within a range of $0.0295 – 0.0600 after opening trade at $0.0370.
KRTL and Yuhan to Begin the Development of Products Between Korea and the US
The company announced that its fully owned subsidiary units KRTL Biotech Inc and KRTL International Corp had gone into a Memorandum of Understanding for developing industry differentiated commercial CBD and other CBD based products in collaboration with Yuhan Care. Yuhan Care is a subsidiary of Yuhan Corporation, which is a worldwide pharmaceutical company that had been established in 1926.
At this point in time, Yuhav is a well-respected company and for the last 20 years, it has been awarded the Number 1 Pharmaceutical Company award in Korea. The subsidiary unit Yuhan Care is involved in the natural health products sector. It also possesses the wherewithal for superficial extraction and research in relation to cannabis efficacy.
The latest development is hence a significant one for KRTL and it is going to be interesting to see if the company’s stock can continue to add to its gains.
Key Quote
“We’re honored to have Yuhan Care engage with us at KRTL, they are a natural health care professionals inherited innovative research competence from Yuhan Corporation, 100-year-old company with a pristine reputation in Korea and around the world. Their commitment to quality and transparency is something we strive for at KRTL and a standard to be emulated by any in the pharmaceutical industry. This agreement allows KRTL to take an incredible strategic step toward our commercial efforts in Korea as the country progresses toward legalization based on the work in the Hemp Free Zone and allows a trusted and significant bridge for CBD products coming into the US from Korea – something that’s never been done before,” said Kai Kim, CEO of KRTL International Corporation.
Technical Data
KRTL stock is trading above the 20-Day and 50-Day Moving averages of $0.0274 and $0.0328 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0342.
