GenTech Holdings, Inc. (GTEH) Stock Sees Gain In Early Session: Will The Rally Continue?

GenTech Holdings, Inc. (OTCMKTS:GTEH) is trading with a mild gain in the opening session on Monday.

Market Action

At 10:50, GTEH stock soared by 9% at $0.0012 on hefty volume. The stock has traded 138.58 million shares compared to its average volume of 335.98 million shares.  The stock opened at $0.0012 and moved in a range of $0.0011 – 0.0012.

Major Trigger:

GenTech’s Closes Acquisition of Fizzique, Award-Winning Sparkling Protein Drinks

Key Highlights:

• GTEH announced that the Company has closed its acquisition of Fizzique, LLC (“Fizzique”) (www.drinkfizzique.com), maker of unique clear, sparkling protein drinks.
• Fizzique was developed by industry veteran David Jenkins, the founder of Detour Bar, the first candy protein bar, and Designer Whey, the first protein designed with women in mind. Fizzique’s product line stands on the shoulders of seven US patents, and was voted Best Functional Drink and Most Innovative Protein Drink Brand in the US by the Supply Side West CPG Editor’s Choice US Food and Drink Awards in 2018 and 2019.
• Fizzique has sold on Amazon.com and Walmart.com as well as in Walmart physical stores. Management anticipates strong potential for the product to be picked up at scale by some of the largest retailers in the US marketplace given its existing purchase order track record.

Key Quote:

“Our Sinfit Nutrition roll-up strategy continues to pick up steam, with the addition of a tremendous award-winning product line from Fizzique,” commented Leonard Armenta, President of GenTech & CEO of SINFIT Nutrition. Armenta added, “This acquisition gives us a larger brand presence on the beverage side, helping to round out our end-market exposure. The R&D and innovation behind Fizzique is exceptional, with seven patents, multiple top product awards, and a track record that shows rapid path potential to large, widespread purchase orders. This is arguably the clearest, cleanest, and most refreshing protein drink ever made. And we are thrilled to help bring it to stores across the US and around the world.”