Black Bird Biotech Inc. (OTCMKTS:BBBT) fell 33% on profit booking. The plant-based MiteXstreamTM biopesticide manufacturer announced the attainment of its first sales for the biopesticide. In addition, the company is expediting the anticipated Q4 sale and marketing initiatives focusing on bringing the necessary crop protection to cannabis, estimated to reach $45 billion by 20225.
Also, the company has commenced efforts to create international sales channels that include Hong Kong, China, and neighboring nations for tobacco and tea and Central American, focusing on coffee and banana crops where mite damage is extensive and costly to farmers and growers.
The company’s president and MiteXstreamTM developer Fabian Deneault said that since no competitors are delivering the exceptional performance standards of MiteXstreamTM, they are confident that the biopesticide will be a game-changer for most crops. He added that they are delighted to bring the product to the hands of farmers after solving supply chain disruptions. So, in the coming weeks, BBBT is a biotech stock to watch.
Market Reaction:
On Monday, BBBT stock slumped 34% at $0.0178 with more than 14.24 million shares, compared to its average volume of 2.31 million shares. The stock has moved within a range of $0.0165 – 0.0300 after opening the trade at $0.0300.
