If you are currently looking into the tech sector, then there are a number of stocks that could be in play this morning, and one of those could be the Vortex Brands Inc. (OTC: VTXB) stock. The diversified tech company had come into the news cycle yesterday after it made an announcement with regards to a key infrastructure implementation milestone.
The Update
On January 14 the company announced that it had successfully implemented the infrastructure necessary to lend support to its algorithmic trading program. It should be noted that the latest development followed soon after Vortex Brands announced that it had finalized the MoU (memorandum of understanding) that granted it access to proprietary algorithms that had a track record of generating monthly returns to the tune of more than 9%.
Further Information
It was further noted in the news release that since the MoU that was signed by the company, it had been involved in thoroughly evaluating the algorithms. Considerable testing had also been performed on the algorithms in order to prepare for live testing. Although the trading volumes had been low owing to the effects of the holiday season in recent times, Vortex Brands noted that the results proved to be promising nonetheless.
CEO Quote
“We are pleased with the progress made in establishing our algorithmic trading program,” said Todd Higley, CEO of Vortex Brands Co. “The successful implementation of our trading infrastructure and the encouraging initial results demonstrate our commitment to this exciting new venture. We are confident that this strategic expansion into fintech will drive significant value for our shareholders.”
Technicals
| +/- EMA(20) | 0.0002 (+0.00%) |
| +/- SMA(50) | 0.0003 (-33.33%) |
| +/- SMA(200) | 0.0004 (-50.00%) |
| 5-Day Perf. | – |
| 1-Month Perf. | -33.33% |
| 3-Month Perf. | -33.33% |
| 6-Month Perf. | -50% |
| YTD Perf. | – |
| 1-Year Perf. | -66.67% |
| RSI(14) | 45.07 |
| ATR(14) | – |
| ADX(14) | 22.34 |
| Beta (5Y) | -0.24 |
