GTEC Stock Is A Low Float Runner

GTEC stock is the latest low float runner to light up the NASDAQ. For all those new to trading penny stocks, this is one of the best setups to find and one which we specialize in finding here at Insider Financial. It’s all about finding the low floater bidding higher in the pre-market and then jumping on board. The algorithms and the shorts getting squeezed do all the rest. Just sit back and ride the wave.As you can see from the chart below, GTEC stock opened at $3.45, dipped to $3.26, and then powered to $10 before noon. Those that were alert and got in at the open, banked big profits. The key to understanding low floats is that they are short-term plays, good for a day trade. They go up and then come back down.GTEC stock closed the day at $5.16 a share. Even if you got in at the open and held, you still made money, but you left the lion's share on the table. GTEC Stock 5-Minute ChartAs you can see from the chart above, GTEC stock didn't go below VWAP until after 12:00. Monitoring VWAP is one of the best ways to keep you in a trade and knowing when to get out.In this article, we will discuss the GTEC stock trade and how we at Insider Financial find winning stocks like GTEC for our subscribers. It's not as hard as it seems. Just need to follow a process.

GTEC Stock

First up, here's a little background info for those new to GTEC stock. Greenland Technologies Holding Corporation, through its subsidiaries, develops and manufactures transmission products for material handling machinery in the People's Republic of China.The company offers transmission products, such as mechanical and hydraulic gearboxes, and transaxles to small and medium-sized forklift trucks for use in manufacturing and logistic applications, such as factories, workshops, warehouses, fulfillment centers, shipyards, and seaports. It also develops robotic cargo carriers.Greenland Technologies Holding Corporation was founded in 2006 and is based in Hangzhou, the People's Republic of China.[embed]https://www.youtube.com/watch?v=8_hxoCLpLhY&t[/embed]

Anatomy of the GTEC Stock Trade

The first thing we do at Insider Financial is looking at what stocks are bidding higher in the pre-market. Then, we look at the size of the float. We are looking for low float plays like GTEC stock. To do so, we check finviz and to see what the float is.As you can see from above, there are just 1.18 million shares in the float. These are the type of plays day traders and algorithms love.Next, we see that GTEC stock is a China play. Chinese stocks are favorites of ours as most have low floats and have a history of producing huge moves in a short time span. Other examples include KXIN, LYL, and EVK.Then, we check to see if there's news. News is an added bonus as the algos jump all over low-float China plays with news. As an added bonus, GTEC stock news was EV related. Here is what the press release said:

Greenland Technologies Holding Corp. (NASDAQ: GTEC) ("Greenland"), a technology developer and manufacturer of forklift transmission and drivetrain systems, announced they will begin offering an integrated electric drivetrain system to its existing forklift OEM clientele to support the manufacture of electric forklifts using lithium batteries. Developed by Greenland's research and development team, this new system integrates the transmission, driving axle, electric motor and lithium battery power source into a single efficient drivetrain for OEM forklift manufacturers to develop the next generation of electric forklifts.Greenland's new product significantly reduces the development time and effort for a forklift OEM to offer a lithium battery powered electric forklift to the market. As a fully integrated lithium powered solution the product is easy for manufacturers to develop material handling vehicles at lower costs. Initial demand by OEMs for Greenland's new powerdrive system is very strong. "Due to increasing environmental regulations and decreasing production costs, the material handling industry is at the cusp of a dramatic shift towards lithium powered solutions," said Raymond Wang, CEO of Greenland Technologies Holding Corp. "It is a great opportunity for us and we will continue innovating in clean energy technology to meet this growing demand for our clients."The forklift industry has witnessed a major shift from traditional internal combustion powertrains to electric battery systems and lithium battery power is the next step in the forklift industry's evolution. Lithium battery systems require less maintenance, charge faster, operate more efficiently and last significantly longer than lead acid power. The cost of lithium batteries have dropped tenfold in the past decade as market trends and technology continue to improve. These factors result in a bright future for lithium battery powered innovations.

GTEC Stock Bottom Line

GTEC stock is just a trade. It’s not a buy-and-hold play. Congratulations to all who caught the move. If you missed the move, don’t worry. There’s always low-float plays to trade, especially on the OTC Markets.As always, good luck to all (except the shorts)!

WHEN INSIDER FINANCIAL HAS A STOCK TIP, IT CAN PAY TO LISTEN. AFTER ALL, OUR FREE NEWSLETTER HAS FOUND MANY TRIPLE-DIGIT WINNERS FOR OUR SUBSCRIBERS. WE SPECIALIZE IN FINDING MOMENTUM BEFORE IT HAPPENS!

Disclosure: We have no position in NASDAQ:GTEC or any of the securities mentioned. We wrote this article ourselves and it expresses our own opinions. We are not receiving compensation for it. We have no business relationship with any company whose stock is mentioned in this article. Insider Financial is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This article is not a solicitation or recommendation to buy, sell, or hold securities. This article is meant for informational and educational purposes only and does not provide investment advice.Image by Pexels from Pixabay