Graystone Company Inc. (OTCMKTS:GYST) Stock Sees Selling Pressure Despite Positive News

Graystone Company Inc. (OTCMKTS:GYST) was down 13%. The company has executed a purchase order for BTC mining equipment. The company paid for the initial purchase order on October 28, 2021, comprising ten units of S19j Pro Machines. 

Market Action:

On Thursday, GYST stock moved up 0.68% at $0.0295 with more than 958.19K shares, compared to its average volume of 960.19K shares. The stock has moved within a range of $0.0270 – 0.0350 after opening the trade at $0.0294.

Graystone Company Purchases Additional S19j Pros For Its Bitcoin Mining Operation

The new 100 TH/s machines will be delivered in December, with installation likely in January 2022. In the coming weeks, the company plans to acquire more units.

The company already has an agreement with a hosting facility where these new units shall be installed. Notably, the hosting cost for the units will be around $185 per unit. Because of high demand, Greystone plans to commit some of the purchases space and equipment to subleasing 3rd party customers. It is vital to the point that the business model will offer additional revenue on top of the company mining BTC. 

The company runs two divisions, including Wellness, Longevity, and Anti-aging products, and a BTC mining business. So, investors should watch GYST.

Traders Note:

GYST stock is trading above the 200-Day and 50-Day Moving averages of $0.0225 and $0.0279 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0303. The stock is up 48% in the past 6-month.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.