Despite the announcement of an imminent product launch yesterday, it did not do much for the Greene Concepts Inc (OTCMKTS:INKW) stock.
Trading Data
On Monday, INKW stock moved up 0.95% at $0.0106 with more than 29.15 million shares, compared to its average volume of 8.41 million shares. The stock has moved within a range of $0.0085 – 0.0108 after opening trade at $0.0105.
Set to Launch Happy Mellow Beverage Line at Beginning of 2022
Over the course of the past week the stock has tanked by as much as 10% and at this point, it is perhaps time for investors to figure out if the decline in the stock could be an opportunity or not. Yesterday, the company was in the news after it announced that it was going to launch its Happy Mellow branded beverages in early 2022. It should be noted in this context that there is a high degree of anticipation about the product.
On the other hand, the potential launch of the product had earlier been publicised by the company earlier on this year in a press release dated September 22, 2021.
Greene Concepts noted that it will be offering a total of three variants under the Happy Mellow brand of beverages. One of those is the Happy Mellow “Be Well” Blood Orange Acai, the second one is Happy Mellow “Be Calm” Plum Punch and last but not the least, Happy Mellow “Be Energized” Lemon Lime. Investors could do well to keep an eye on the stock at this point and see if it gets any action in the months leading up to the launch.
Key Quote
Lenny Greene, CEO of Greene Concepts, states, “We are thrilled to launch our premium Happy Mellow formulated drinks to the public at the beginning of 2022. We are also passionate about bringing awareness to consumers and providing our customers with a hemp extract product that is easy, accessible and most importantly enjoyable. Each flavor contains vitamins and minerals designed to help support revitalization, focus and relaxation of the body. We believe these products will resonate with consumers across the U.S. who are looking for healthier and great tasting beverage options. We are highlighting the significant role that hemp-extract can play in helping people manage their stress, find moments of calm and prioritize wellness.”
Technical Data
INKW stock is trading below the 20-Day and 50-Day Moving averages of $0.0118 and $0.0128 respectively. Moreover, the stock is trading below the 50-Day moving average of $0.0258. The stock is down 37% in the past 3-month.
