Small Cap Catches Premarket Bid After Filling Government Agency Orders

By: Tomas Ronolski - AllPennyStocks.com News

Monday, January 11, 2021

A Los Angeles-based company has announced that it has fulfilled multiple orders for the personal protective equipment (PPE) from government agencies. GTX Corp (OTC-PNK:GTXO) stated that the agencies involved included the United States Marine Corps, the U.S. Navy, the U.S. Department of Agriculture and the U.S. Department of Veterans Affairs. These orders were quickly processed and shipped in coordination with the company’s strategic partner, Kiernan Group Holdings according to the release.

GTX Corp, along with its subsidiaries, is engaged in designing, development, manufacturing, distribution, and sales of products and services in the GPS and BLE wearable technology personal location and wandering assistive technology business. The company generates its revenue from the sale of GPS tracking devices, related monthly fees, the sale of GPS SmartSole, monthly service fee from subscribers of the GPS SmartSole, and mobile tracking applications sold through Apple iTunes store and Google marketplace.

Traders seem to be anticipate a bullish open following the news as a decent amount of shares are bid up at $.0135/share (implied +3.8%) thirty minutes before the opening bell. This moved will move the stock over its 10-day SMA and serve as confirmation of the support the stock found last week at the 100-day SMA.

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