Global Tech Industries Group, Inc. (OTCMKTS:GTII) has approved a new stock dividend according to a FINRA filing.
GTII shareholders will receive one (1) restricted common share for every 10 shares held as of record.
The record date is filed for April 15 and the payment date is set for April 29.
GTII stock rose more than +4% on Thursday with shares being up nearly +20% in the past 5-trading days, and more than +40% this year-to-date.
Shareholders on social media are celebrating the approval of the new GTII stock dividend.
Now investors are embracing for the high probability of a GTII short squeeze.
In March, we saw heavy 50%-60% short volume days with some days nearing 70%, so we know Global Tech Industries is heavily shorted.
Will this stock dividend trigger a squeeze, and if so, how high will GTII stock go?
Shareholders are predicting the stock to soar several tens to hundreds of dollars with other more optimistic investors estimating GTII to reach thousands per share like we saw with HKD stock in the past.
Massive buying pressure in the form of ‘buybacks’ from short positions closing may result in big price moves for GTII, though there is no way to pre-determine an exact peak.
Recent GTII Stock News
Global Tech Industries Group, Inc. announced in late March that the lawsuit previously filed by the Company in the United States District Court in the Southern District of New York has officially been served on all Defendants, including Canaccord Genuity LLC, Credit Suisse Securities, (USA) LLC, Instinet LLC, Lime Trading Corporation and GTS Securities, LLC.
The Company looks forward to its day in court, the filing said.
In February, the company took legal action against naked shorts.
The Nevada corporation announced that its board of directors had authorized management to move forward with appropriate legal action in connection with what it believes to be illegal trading activity in the Company’s shares.
As the Company previously disclosed, it has retained the legal teams of Christian Levine Law Group, LLC, (“Levine”) and Warshaw Burstein, LLP, (“Warshaw”), both of whom have specific expertise in stock fraud litigation, to handle the legal actions for the Company.
Today, there is an ongoing war against naked shorting in the markets, as we’ve seen with Roger Hamilton’s Genius Group (GNS) and the MMTLP community.
GTII as of date has been one of the first companies to challenge naked short selling this decade in a court of law — this is a developing story.
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