While there were many stocks which recorded significant gains on Friday, there were many other stocks which declined sharply as well and the Ethema Health Corporation (OTCMKTS:GRST) stock was in the latter category.
Market Reaction
On Friday, GRST stock fell 6.67% to $0.0014 with more than 43.45 million shares, compared to its average volume of 38.46 million shares. The stock has moved within a range of $0.0012 – 0.0015 after opening trade at $0.0015.
Recent News
On Friday, the Ethema stock suffered from a selloff and ended the day with a decline of as much as 7%. While the magnitude of the decline may be notable, it is also true that there was no news with regards to Ethema Health on Friday that could have led to this selloff. As a matter of fact, there has been no news at all about the company since June this year.
Back on June 9 it had emerged that the company had got a fixed rate convertible note financing provided by the Labrys Fund LP. The details had emerged after Ethema Health submitted a filing with the United States Securities and Exchange Commission.
The company received the note which had a face amount to the tune of as much as $230,000. In addition to that, it had an ODI of 10%. The conversion price for the same had been set at $0.004 a share at the time. However, it is unlikely that this had any bearing on the decline in the stock last Friday.
Traders Review
GRST stock is trading below 20-Day and 50-Day Moving averages of $0.0017 and $0.0200 respectively. However, the stock is trading above the 200-Day moving average of $0.0042. The stock is down 39% over the past month.
