Red Light Holland Corp (OTCMKTS:TRUFF), which is based out of Ontario in Canada, is a well known operator in the magic truffles industry. It not only produces and grows magic truffles but is involved in its sale as well.
On Monday, TRUFF stock surged 3.57% at $0.1580 with more than 569.28K shares, compared to its average volume of 297.51K shares. The stock has moved within a range of $0.1462 – 0.1617 after opening the trade at $0.1511.
What You Need To Know
Although there has been no news at all about the company in many weeks the stock had managed to make an upward move and ended the day with gains of as much as 4%. In this situation, it might be a good idea for investors to take a look at a development from last month on October 8.
On that day the company unveiled its new product named iMicrodose Products. The products are powered by Red Light Holland. Under this particular brand, the company is going to offer three different forms of magic truffles; Mindfuli, Uniti and Triniti.
The products are going to be sold in the Netherlands by SR Wholesale, which is a fully owned subsidiary company of Red Light Holland. While the announcement on October 8 was a significant one, it should be noted that the reasons behind the rally on Monday are still unclear. It might be a good time for investors to keep an eye on the news wires with regards to the company.
TRUFF stock is trading below the 200-Day and 50-Day Moving averages of $0.25 and $0.18 respectively. However, the stock is trading above the 20-Day moving average of $0.16. The stock is down 30% in the past 3-month.