RETC is up big this year and investors are asking what is going on?
Market Action
RETC was on fire today. Volume was 1.9 billion shares double its 30-day average. Shares closed Thursday at .0093, gaining .0023, up 32% on the day. Shares gapped up 82%, opening at .0128, and traded between .009 and .016.
12 Retech Corporation (OTCMKTS:RETC) has been on a wild ride this year up 800% in the last few weeks.
So what is going on? Why are investors bidding this stock up? The company has not issued news in a month.
If we take a look at the RETC profile page on OTCMarkets.com we don’t find much. RETC is listed with a stop sign warning investors that the company is a pink with no information and carries the warning: This company may not be making material information publicly available.
We do see that RETC has a verified profile as of 03/2021 and is also transfer agent verified.
Company Description
“RETAIL REINVENTED” 12 ReTech Corporation has REINVENTED RETAIL for both our own retail outlets and other merchants who would want to license our cutting-edge retail software to experientially engage with consumers, increase revenues, reduce expenses and provide superior service to their customers. In addition to our software licensing business, the company operates twelve retail outlets that sell electronics and travel related products at premium U.S.A. airport and casino locations under our Bluwire brand. We create and sell fashionable apparel under our Rune NYC, Social Sunday, Emotion Fashion & Lexi-Lu brands. We make clothing and travel accessories at our Red Wire Group factory. As a vertically integrated omni channel retailer 12 ReTech’s technology team is able to truly understand and develop what merchants need in order to thrive in today’s difficult retail environment. We give our retailer clients the abilities and tools that enable them to compete effectively with the likes of Amazon, Walmart and others.
RETC has been very active. Today’s volume and price spike will get the attention of lots of traders. The fact that it is sub-penny alone will make it an attractive option for the most speculitive investors. Keep RETC on your radar to see if buyers will emerge here and the stock goes higher.
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