PlantX (CSE: VEGA)(OTCQB: PLTXF) Undergoes A Bullish Bounce

31 de mai. de 2022

After tracking a multi-week downtrend amidst notable levels of background volatility both on the CSE and global exchanges as a whole, PlantX is riding upwards on a burst of bullish investor sentiment. VEGA.CN is trading +66% and PLTXF +45% since market open 5/19. While the plant-based sector as a whole has seen gains in recent days, PlantX's double digit gains outpace the competition by a significant factor (see VEGN, CSE Comp Index, and TTCF for examples of sectoral peer performance). VEGA.CN has likewise seen a surge in trade volume, as reflected in the PVT below and testifying to an uptick in investor engagement. Meanwhile, momentum indicators from the MACD point to the initiation of a bullish reversal. While a technical pullback is to be expected after such rapid gains, PlantX's share price gains in the past week are a sign that the market is responding positively to robust MoM revenue growth and an aggressive M&A strategy that is quickly transforming the company into a plant-based ecommerce giant serving an international consumer base.