Renewable Energy & Power Inc. (OTCMKTS:RBNW)was up 50% after its subsidiary Lust for Life LLC announced that the focus of the Lust for Life Footwear brand has been to create booties and boots for the 2021 Fall season.
Trading Data
On Tuesday, RBNW stock soared 50% at $0.0003 with more than 36.42 million shares, compared to its average volume of 243.21 million shares. The stock has moved within a range of $0.0002 – 0.0003 after opening the trade at $0.0002.
Latest News
In 2020, the production of boots was suppressed because of the COVID-19 stay-at-home protocols. As a result, inventory for the season was low, giving retailers a large appetite for the Fall 2021 season. Already LFL has started creating products with private label clients and will start shipping $700,000 of thrilling new fashion boot styles for the fall period.
For the past few months, the LFL has been shipping popular footwear to main retailers, including TJ Maxx, Burlington, and other discount retailers. However, it is vital to note that this is part of the company’s strategy with continued work in the private brand segment through channels like the Bloomingdale outlet. In addition, the subsidiary will continue growing its successful brand for the rest of 2021. So, in the coming months, RBNW is worth watching.
Technical Data
RBNW stock is trading below the 20-Day and 50-Day Moving averages of $0.0003 and $0.0003 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0009. The stock is down 25% in the past 3-month.
