Sometimes some stocks start rising dramatically despite no news with regards to the company’s business and that is what happened with the Gratitude Health (OTCQB:GRTD) stock on Tuesday. The company is involved in making and marketing beverages that are meant for nutrition as well as for healthy aging.
On Tuesday, the stock jumped by as much as 87% and emerged as one of the highest gainers in the market on the day. Since there is no news with regards to the company that could have triggered this rise, it is perhaps worthwhile to take a closer look at the company.
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The company has taken massive strides over the course of 2019 and that could also be the reason behind the sudden rally in the Gratitude Health stock on Tuesday. In January, the company had launched the first-ever ketogenic meal replacement beverage in the world and it is a product that could eventually prove to be a revolutionary one. At the time, the company had announced that the launch was going to take place in the second quarter of this year. The product is going to made available in three separate flavors and if the sales of this product do manage to show strong demand, then it could be a huge positive for the company.
However, that is not all. Earlier on in August, it had emerged that the Gratitude Health’s beverages had been taken on by Duane Reade by Walgreens as part of a pilot project named the ‘healthy set’ platform. It is a significant development for the company and one that could propel it into bigger things in the future. However, it is also necessary to keep in mind that Gratitude’s products are already being distributed by as many as 200 stores spread across Connecticut, New Jersey, and New York. The whole distribution process is managed by the company’s partner Dora Naturals.