Cannabis company Pineapple Inc (OTCMKTS:PNPL) was in the news on Tuesday after it announced that it had submitted its filings for the financial results for the fiscal quarters that ended on March, 30, June, 30 and September, 30 this year.
On Tuesday, PNPL stock ended flat at $0.0100 with 120 shares, compared to its average volume of 191 shares. The stock has moved within a range of $0.0100 – 0.0100 after opening trade at $0.0100.
Files 2021 Q1-Q3 Quarterly Reports and Becomes Current with SEC Reporting Obligations
The filings were submitted to the United States Securities and Exchange Commission. It was a significant development for the company without a doubt but it did not lead to any particular excitement about the Pineapple stock and it continued to trade within a range on Tuesday. It will be interesting to see if the stock does break out over the course of the coming days or not.
The President and Chief Executive Officer of the company Shawn Credle spoke about the development as well. He stated that the company is now looking to complete the rest of the steps after the completion of the filings.
Once those steps are completed, Pineapple Inc could be listed again on the OTC Markets as an over the counter stock. He went on to state that once the stock is listed on the OTC Markets once again, regular trading in the stock is going to commence. Investors could do well to keep an eye on the developments on that front.
PNPL stock is trading below the 20-Day and 50-Day Moving averages of $0.46 and $0.53. Moreover, the stock is trading is the oversold zone with RSI stands at 25. The stock is down 28% over the past month.