Despite making a fairly positive announcement on Thursday from Herborium Group Inc (OTCMKTS:HBRM), there was not a lot of movement in its stock and it traded within a range.
However, at the same time, it should be noted that stocks which trade within a range can often break out strongly as well and hence, it could be a good idea to take a closer look at the announcement. Herborium, which is involved in the botanical therapeutics space, announced yesterday that commencement of the manufacturing phase for its new Skin Protein Bars product.
In this context, investors perhaps need to get a better idea about the nature of the product. The protein bars in question are not only meant for helping with healthy skin but also with a healthy body. It is aimed at helping with both health management and also sugar management.
It was announced by the company yesterday that the bars are going to be made available in a wide range of flavours in order to appeal to a wider range of consumers. At this point, the market for protein bars is growing at a remarkable pace and Herborium is looking to cash in on that particular trend.