Vortex Brands Co. Initiates Algorithmic Trading Program Following Successful Infrastructure Implementation
Rhea-AI Summary
Vortex Brands Co. (OTC: VTXB) has announced the successful implementation of infrastructure for its algorithmic trading program. This development follows a previously announced MOU that grants the company access to proprietary algorithms with a history of generating monthly returns exceeding 9%.
The company has been evaluating and testing these algorithms in preparation for live trading. Despite low volume and sideways market movements during the recent holiday season, initial results have been described as promising. CEO Todd Higley expressed confidence that this strategic expansion into fintech will create significant shareholder value.
Positive
- Access to proprietary algorithms with historical monthly returns exceeding 9%
- Successful implementation of trading infrastructure
Negative
- Low trading volume during testing period
- Results are only preliminary and not yet proven in live trading
News Market Reaction
On the day this news was published, VTXB declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Since finalizing the MOU, Vortex Brands has been diligently evaluating the available algorithms and conducting comprehensive testing in preparation for live trading. Despite the typically low volume and sideways market movements experienced through the recent holiday season, initial results have been promising.
"We are pleased with the progress made in establishing our algorithmic trading program," said Todd Higley, CEO of Vortex Brands Co. "The successful implementation of our trading infrastructure and the encouraging initial results demonstrate our commitment to this exciting new venture. We are confident that this strategic expansion into fintech will drive significant value for our shareholders."
About Vortex Brands Co.:
Vortex Brands Co. (OTC: VTXB) is a public company dedicated to developing and deploying innovative technologies, including Bitcoin mining, with a focus on renewable energy and financial technology. The company aims to drive sustainable growth and deliver long-term value to its shareholders through strategic investments and business expansion.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those implied by such statements.
View original content:https://www.prnewswire.com/news-releases/vortex-brands-co-initiates-algorithmic-trading-program-following-successful-infrastructure-implementation-302349451.html
SOURCE Vortex Brands Co.
FAQ
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