Green Star Products (OTCMKTS:GSPI) Stock Gains 8% After The News

Shares of Green Star Products (OTCMKTS:GSPI) closed higher on Thursday after announcing a key update.

Market Action

On Thursday, GSPI stock gained 8.22% at $0.0079 with more than 1.13 million shares, compared to its average volume of 624k shares. The stock has moved within a range of $0.0073 – 0.0079 after opening the trade at $0.0077.

Green Star Products’ Cannabis Insect Repellent Spray Passes California Testing

Kristy Hunt, President of Green Star Products (OTCMKTS:GSPI), announced on November 11, 2021 that their Cannabis Insect Repellent Spray has met the standards of rigorous California testing that was performed by CannaSafe Labs for 70 different categories including pesticides and other substances that are prohibited in California.

The product in question has passed with flying colors in categories like pesticides, heavy metals, microbials, mycotoxins, residual solvents, while recording non-detectable quantities in all 70 categories. The CannaSafe personnel are highly impressed and has contacted the company directly to state that the Cannabis Insect Repellent Spray is possibly one of the cleanest samples they have ever tested.

Now that they have the approval, test products can be distributed to California growers. The repellent has already been tested by Montana growers against two of the most prevalent and destructive insects for cannabis plants – spider mites and thrips.  As of now, testing is being conducted against other insects, and for other agriculturally important plants.  The Cannabis Insect Repellent Spray has shown promising results against flies too.

The repellant was developed by Joseph LaStella, who retired as President of Green Star Products, to conduct his own private research. Green Star Products has acquired the exclusive distribution rights for North and South America. Limited production is expected by end of December 2021, with a full scale-up by late January 2022.

Key Quote

β€œIn fact, our all-natural Insect Repellent not only passed all 70 categories including pesticides, heavy metals, microbials, mycotoxins and residual solvents, but recorded non-detectable quantities in all of the 70 categories. The CannaSafe personnel actually contacted us directly and stated this was one of the cleanest samples that they have ever tested (see official lab results attached).”

Traders Note

GSPI stock is trading below the 20-Day and 50-Day Moving averages of $0.0080 and $0.0094 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0125. The stock is up 14% over the past month.

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