Global athletic performance company Dryworld Brands Inc (OTCMKTS:IBGR) saw its stock take a significant dive on Monday as it ended the day with a decline of as much as 11%.
Trading Data
On Monday, IBGR stock fell 10.64% to $0.42 with 348k shares, compared to its average volume of 322k shares. The stock has moved within a range of $0.4200 – 0.5450 after opening trade at $0.5450.
Super League Triathlon And Dryworld Announce New Global Apparel Partnership
However, despite the decline it should be noted that today the company is in the news once again after it emerged that DRYWORLD has been selected as the official apparel partner of Super League Triathlon. It goes without saying that the three year global apparel deal is a major development for DRYWORLD and it is going to be interesting to see if the stock can actually make a recovery over the course of the coming days.
As per the provisions of the agreement, DRYWORLD is going to be involved in the design, development and manufacturing of training apparel as well as tri-suits that are going to be used by the professional athletes who are going to participate in the Super League Triathlon. In addition to the actual athletes, DRYWORLD will also make apparel for the members of the staff at the event. Last but certainly not the least, the company will also make merchandise for fans and athletes all over the world. It remains to be seen if the latest news leads to any optimism about the DRYWORLD stock or not.
Key Quote
Head of Partnerships at DRYWORLD, Ian Hollister, said: “DRYWORLD is most excited about partnering with a brand that is innovative in its approach to the sport. As well as its incredible global Championship Series, Super League is the first major sports brand to incorporate a virtual element to real world competition in their unique product, the Arena Games Triathlon in partnership with Zwift. In fact, SLT Arena Games just won the Cutting Edge Award at the Sports Industry Awards”.
