In the past trading days, Global Tech Industries Group, Inc (OTCQB:GTII) has ranged in price from $1.7200 to $2.5300. The Global Tech Industries stock closed at $2.3500 on Thursday, up 39.05 percent.
Over the last month, GTII stock soared over 78.03%. Average volume for the month was 335.21K shares. During the past three months, GTII stock gained more than 2261.8%, while trading volume averaged 377.24K.
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The GTII stock has experienced a bull market over the last year, rising more than 13723.53% with a $518M market cap. GTII stock spiked after news emerged that it has signed a Letter of Intent to acquire a New York-based eyecare business.
What was the acquisition deal?
Publicly traded Global Tech Industries is a Nevada-based company that seeks to acquire new, innovative technologies.
In press release yesterday, Global Tech Industries announced that it has signed a binding Letter of Intent (“LOI”) with Bronx Family Eye Care, Inc., an optometrist firm in the New York area.
Residents of the Bronx and Upper Manhattan are provided with the services of Bronx Family Eye Care’s optometrists using the most up-to-date equipment to diagnose and treat diseases of the eye as well as corrective eyewear.
Bronx Family Eye Care operates out of four locations including three in the Bronx and one in Manhattan, New York. Having the edging done in-house allows Bronx Family Eye Care to produce turnaround time as little as 24 hours. Within the next thirty (30) days, a definitive stock purchase agreement and closing will be announced.
What GTII will be achieving?
A key part of Global Tech Industries’ (GTII) mission is to acquire companies with interesting business models that are of both public and economic importance, so the business being acquired is already profitable, which will strengthen the GTTI’s future plans.