Gb Sciences Inc. (OTCMKTS:GBLX) Stock In Focus After Issuing Shareholder Letter

Gb Sciences Inc. (OTCMKTS:GBLX) is moving in a range after the company issued a letter from its Director, Chief Scientific Officer, PresidentDr. Andrea Small-Howard, and CEO and Chairman John Poss to shareholders detailing major developments in 2021 and strategic plans for 2022.

Market Stats

On Wednesday, GBLX stock gained 1.40% to $0.0296 with more than 152K shares, compared to its average volume of 325K shares. The stock moved within a range of $0.0292 – 0.0320 after opening trading at $0.0306.

UPDATE: Gb Sciences Issues Shareholder Letter

Last year was transformative for the company. In December, Gb Sciences sold its last cannabis production plant to be a pure-play biopharmaceutical firm specializing in plant- and cannabis-inspired drugs. The sale reduced the company’s debt burden and allowed the company to invest in the development of biopharmaceutical drugs.

Notably, the pivot from cannabis will help do away with barriers to uplist on a major stock exchange that the company could have faced as a cannabis firm. Most importantly, up listing will increase the company’s opportunities and attract development and investment partners that will help Gb Sciences move its formulations to clinical trials. So investors should keep an eye on GBLX in the coming weeks.

Traders Corner

GBLX stock is trading below the 20-Day and 50-Day Moving averages of $0.0302 and $0.0315 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0371.