The stock market can sometimes throw up intriguing moves that investors ought to take note of and such a move was seen yesterday in the Kaival Brands Innovations Group (NASDAQ:KAVL) stock on Tuesday.
There was no news about the company yesterday but the stock attracted legions of investors nonetheless and it ended the day with gains of 40%. As it happens, the gains recorded by the Kaival stock on Tuesday took its gains for the past week to as much as 80%. Considering the fact that there has been no recent news about the company, it might be a good idea to take a look at some past developments.
The stock had tanked hard last month after Kaival announced that revenues in the third fiscal quarter dropped to $3.4 million due to the slowdown in the e-cigarette industry.
The slowdown in the industry had come about due to the permanent tobacco application process that had been instituted by the United States Food and Drug Administration. At the time the company had stated that the regulation actually exceeded the mandates that had been put in place for the FDA. It now remains to be seen if the stock can continue to add to its gains today.
