Shares of IDenta Corp (OTCMKTS:IDTA) were under pressure on Tuesday with a fall of over 20%.
Market Reaction
On Tuesday, IDTA stock ended lower by 20.50% to $0.6750 with 6.13k shares, compared to its average volume of 1.2k shares. The stock has moved within a range of $0.6500 – 0.7000 after opening trade at $0.70.
Launches Unique Kit to Detect Illicit Drugs and Opens Front Office in Washington D.C. Area
World leader in developing Detection Kits to identify Illicit Drugs and Explosives IDenta Corp (OTCMKTS:IDTA) is launching its one-of-a-kind patent kit to identify 30 kinds of illicit drugs in a single test. It is the first and only kit in the world to do so, and Amazon is the ideal platform for that purpose. The company also specializes in identifying other Forensic Products for the Homeland Security and Consumer Markets.
Mr. Amichai Glattstein, CEO of the company, stated that this is a rare launch because they are introducing a unique patented product on the world’s best platform. The kit is convenient, safe, and easy to use, with instant results. He is certain this distribution method of IDenta products, will position the company as a major player in the online market.
In other news, IDenta Corp has opened a front office in the Washington D.C. area. Being a base for many security companies from the United States and around the world which are close to U.S. government offices and their annual budgets, the capital area is the perfect location. Mr. Amichai Glattstein is set to head the office. It was opened with the cooperation of the company and a government ministry in Israel to promote business between both countries.
Key Quote
Mr. Amichai Glattstein, Chief Executive Officer, commented: “The new office in the Washington D.C. area, USA is a breakthrough in IDenta’s history. The USA markets are the main markets for our different products. We evaluated the USA markets for our products (legal law enforcement and consumer markets) in tens of millions of dollars per year. The success penetration of the American markets will also boost the many other markets worldwide.”
Traders Review
IDTA stock is trading below the 20-Day and 50-Day Moving averages of $0.9892 and $1 respectively. However, the stock is trading above the 200-Day moving average of $1.29.
