Frélii, Inc. (OTCMKTS: FRLI) market prospects have turned from bad to worse as investor sentiments edge lower. The stock has lost more than 40% in market value as the effects of surging short selling pressure continue to bite.
Frelii Price Analysis
The plunge comes on the heels of the Company, denying claims of potential stock promotional activities believed to have catapulted the stock to all-time highs. The Company is also fresh from signing a contract and licensing agreement with Optivida Health as it continues to explore ways of strengthening its core business.
Frelii has also entered into a strategic agreement with NewPath Health Care Solutions that paves the way for it to advance its innovative genomic science and applications. While the flurry of positive developments points to a company focused on strengthening long-term prospects, the stock has continued to edge lower.
A plunge to the $1.57 level has exposed Frelii to new all-time lows, waiting to see if a bounce back will come to the rescue. Below the $1.80 resistance level, the stock remains vulnerable to further drops in line with the descending trend line.
Conversely, a rally followed by a close above the $1.80 mark should revitalize suggestions of a potential bounce back from all-time lows. Given the underperformance of the past few weeks, then Frelii will have to serve groundbreaking catalysts as a way of reinvigorating investors’ confidence to avert further slides.
What Does Frelii Do?
Frelii is a biotech company that designs and utilizes artificial intelligence to assess more than 3.2 billion markers in the human genome. The Company also operates a web-based subscription service that provides personalized nutrition and wellness plans. In addition, the Company has also expanded its footprint into the cannabis sector in the recent past.
Stock Promotional Allegations
Frelii has not had the best of runs in recent weeks an underperformance that could be attributed to stock promotional allegations. The management has had to come out and defend the Company over claims that illegal promotional activity resulted in higher than average stock trading volume.
“The Company had no knowledge of the unauthorized promotional activity until OTC Markets notified it and given a copy of the material. It was not involved, directly or indirectly, with the creation, distribution or payment of the promotional materials related to the Company and its security,” Frelii in a statement.
Amidst the stock promotional claims, Frelii has inked a landmark deal with Optivida Health, poised to generate significant value going forward. Under the terms of the agreement, Optivida is to leverage the Company’s DNA Kit Packages to ensure customers enjoy the full benefits of the products on offer.
The Licensing agreement all but validates the Company’s credibility when it comes to the provision of a blend of human DNA sequencing and artificial intelligence. The ability to sequence over 3.2 billion DNA markers means the Company can provide Health & Wellness, Healthcare, and Pharmaceutical industries with unique advanced data to aid in patient care.
“The combination of Frelii’s advanced DNA technology matched with the best in patented and well-researched supplements gives customers absolute assurance that they are getting the right amount of the right nutrients to change their lives,” stated Optivida Heath CEO Frank Davis.
In addition, Frelii has entered into a Memorandum of understanding with NewPath Health Care Solutions, Inc., Mercator Biologic, Inc., and True DNA Story, LLC with the sole aim of advancing cutting-edge Genomic Science applications.
The companies are coming together to leverage each other capabilities with the aim of enhancing and furthering the science of genetics, markets, and quality of life. Frelii is to offer its highly advanced artificial intelligence-based technology platform and expertise to further its corporate growth and market objective.
The stock promotional allegations appear to have taken a toll on Frelii if the underperformance in recent weeks is anything to go by. However, the Company’s core business remains as solid as ever, with tremendous opportunity for growth, given the strategic partnerships that the Company continues to sign.
The stock is likely to bounce off current lows once investors take note of the Company’s tremendous potential and once the stock promotion dust settles down.
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Disclosure: We have no position in FRLI and have not been compensated for this article.