GME Innotainment Inc (GMEV) Stock Picks Up Momentum: Up 70% in a Week

This post was originally published on this site

Anyone looking into the major gainers over the past week must have noticed the gains made by the GME Innotainment Inc (OTCMKTS:GMEV) stock and the rally in the stock continued on Wednesday. Yesterday, investors continued to pile on to the GME stock and sent it soaring by 20%.

That took its cumulative gains over the course of the past week to a staggering 70%. There was no news about the company yesterday but back on August 31 GME’s subsidiary Foundation Farms Corp announced that it issued a purchase order with regards to a 450 tower vertical farm that is going to be situated at Abbotsford in British Columbia.

Back in July, Foundation Farms had actually released some of the details about the project by way of press releases. In the latest announcement, the company noted that a new business plan has been put in place by a third party.

More importantly, it has been projected that Foundation Farms is going to be able to generate gross margins of as much as $445,000 a year, which works out to around 98% of sales. Hence, it is no surprise that the GME stock has been on the move over the past few days.