Gentech Holdings (OTCMKTS:GTEH) Surges on Unusual Volume: What’s Going On?
The markets are slowly but surely gaining momentum once again after the slow opening up of the global economy in recent weeks, and many stocks have been gaining momentum during the time. One of the stocks that have been gaining momentum this week is Gentech Holdings Inc (OTCMKTS:GTEH). The company launched a unique coffee subscription service called Secret Javas earlier on this year.
In order to fuel further growth in its business, GenTech Holdings is now making strategic acquisitions. It could be worthwhile for investors to keep an eye on this stock and perhaps take a far closer look at the business.
This week the company made an important announcement with regards to its business that had a significant effect on its stock. GenTech announced that the value of international orders in its newly acquired brand Sinfit Nutrition has gone past $150,000. Sinfit Nutrition is one of the functional food brands owned by the company, and it is ranked among the top 5 in its category in more than 2500 GNC locations in North America.
In addition to that, it has as many as 10,000 retail and e-commerce outlets spread across as many as 10 nations across the world. It is a significant development for GenTech Holdings and also reinforces the idea that the acquisition could eventually prove to be a successful one.
GenTech is fast emerging as one of the leaders in Functional food and premium coffee marketplaces. The recent announcement from the company has also resulted in major momentum in its stock, and it could be wise for investors to keep a close eye on the latest developments around the company.
In order to keep growing, the company will need to keep boosting its sales channels, and back in May, GenTech Holdings did exactly that. On May 27, the company announced that it has started working aggressively on its sales channels in order to boost the sales of the different food-related brands that it acquired. It is important to note that the acquisition spree might not be over, and GenTech is going to have to continue with its work on the sales channels.
At the time, the company had just announced that it was on the verge of acquiring Sinfit Nutrition. It is an interesting acquisition from GenTech, and there is potential in Sinfit delivering in the long term. In 2019, Sinfit had produced revenues of $2.2 million. The acquisition was made primarily in cash, but there was apparently an equity element involved. David Lovatt, the Chief Executive Officer of GenTech had stated at the time that the acquisition of Sinfit is going to have a synergistic element and is going to further boost the company’s business model.
Neither PSN nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision