GenTech Holdings: SINFIT Nutrition Brand Qualifies for Mass Retail Status, Stock Jumps
Gentech Holdings Inc (OTCMKTS:GTEH) has been one of the more interesting companies to have come up in recent years. The company started off by offering a subscription service, named Secret Javas, for premium coffee earlier on this year. However, that is not all. Recently, GenTech completed the acquisition of SINFIT by way of which it is all set to offer a wide variety of Functional Foods.
On Wednesday, the GenTech stock rallied by as much as 10% after there was a major development with regards to its SINFIT brand. Considering the gains made by the company, investors could do well to take a keener interest in the stock and the developments around GenTech.
On Wednesday, GenTech made an announcement with regards to its SINFIT Nutrition brand that created a lot of positivity around the stock. The company announced that the supplement distributor Europa Sports has revealed the functional food brand has qualified for mass-market retail, FDM, and military status.
It is a significant development for the brand and for GenTech considering the fact that Europa Sports is among the biggest supplement distributors in the world. It is an association that could give the SINFIT brand the springboard that could propel it into the big time within a short period of time.
The latest gain made by the stock is a reflection of what the market thinks of the developments. The GenTech stock is expected to be in the radars of investors over the coming days and in such a situation, it could also be worthwhile for investors to keep track of the stock. SINFIT is an acquisition that has already started showing excellent signs and that was evident in an update provided by GenTech back in June. In this regard, it should be noted that SINFIT is an established functional food brand and is counted among the top 5 globally. Its products are available in 10000 retail and e-commerce outlets in as many as 10 nations.
Hence, there was a lot of buzz around the update provided by GenTech. The management at GenTech announced that SINFIT brand managed to generate revenues of as much as $2.2 million in 2019. GenTech also provided information on the latest orders that have been received for the functional food products made by SINFIT. It announced in the press release that SINFIT fielded international orders to the tune of $70,000 from Singapore and $80,000 from the UAE. The press release was published on June 22. However, it should be
noted that since then the company has got more international orders. An order worth $70,000 has come in from a distributor in Canada and the distributor from Mexico has also placed an order. The latter is worth $50000.
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