Today was quite the trading day for those who love volatility. The S&P 500 rallied in early trade only to be smacked down in the second half of the session. While many bulls were hoping the index would finish strong to break through some key resistance, it seems that negative sentiment took over.
There is a silver lining in all of this chaos as a late headline came across the wire. Ethema Health Corporation (OTC-PNK:GRST) announced today that its majority-owned subsidiary Evernia Health Center LLC has been issued a license from Florida’s Department of Children and Family Services to operate addition treatment services according to the late release. This is coming off the heels of a debt restructuring and acquisition of the subsidiary that occurred in late August of this year.
This news came right around the time that the market was having an intraday slump, as traders snatched up shares pushing the price up to $.0042/share (+23.5% DoD) on heavy volume. From a technical perspective this is a strong continuation of the 3-month long uptrend the stock has been having as it crossed over its 10-day SMA on the news.
