While there was no news about Amazonas Florestal Ltd (OTCMKTS:AZFL) on Monday, the stock was one of the notable laggards and ended the day with a decline of as much as 11%.
Market Reaction:
On Monday, AZFL stock fell 11% at $0.0016 with more than 64.29 million shares, compared to its average volume of 74.64 million shares. The stock has moved within a range of $0.0016 – 0.0018 after opening the trade at $0.0017.
Key Trigger
Despite the decline in the stock, it is perhaps important to note for investors that last week on October 18, the company had reported strong numbers in its third fiscal quarter. Amazonas Florestal generated revenues of as much as $4.885 million to go along with gross profits of $50000 and both those figures were the highest figures for those metrics in the history of the company.
It goes without saying that it was a significant development for the company and that is something investors ought to keep in their minds when looking into the Amazonas Florestal stock. On the other hand, the newest acquisitions Innova Consulting Group and Gamma Engineering both managed to record strong growth.
More importantly, the business models of both the companies have proven to be effective at a time when the cannabis industry is growing at an impressive pace in Columbia. Innova has projected that its revenues for 2021 are going to hit as much as $8 million this year.
