Shares of Allied Corp (OTCMKTS:ALID) continued to move lower on Thursday and now down 15% in a month.
Trading Data
On Wednesday, ALID stock fell 0.56% to $1.78 with more than 8.3K shares, compared to its average volume of 23.26K shares. The stock has moved within a range of $1.7600 – 1.8600 after opening trade at $1.80.
Allied Corp Partners with Trulife Distribution for the U.S. Health and Wellness Market
Allied Corp (OTCMKTS:ALID) on December 15, 2021, announced the signing of non-exclusive national sales as well as distribution contract with Trulife Distribution.
Under the agreement, TruLife will be distributing, marketing as well as selling Allied’s three brands and products across the United States. Products include Equilibrium Bio, Tactical Relief, and MaXXa, they all are lower than the 0.3% THC legal limit. The agreement will entail the national distribution of Allied products into the distribution channels such as Major Online Retailers, Specialty Health and Nutrition Stores, Regional Nutrition Food and Drug Retailers as well as National Nutrition Food and Drug Retailers.
There are more than 25,000 stores in the Specialty Health category of all sizes including USA Sports / Muscle Foods, Complete Nutrition, Europa Sports, Vitamin Shoppe, Bulldog Distribution amongst others. In the Regional Nutrition Food and Drug Retailers category, there are stores such as Publix, Grocer’s Pride, Schnuck’s, Hannaford, Food Giant, Weis Markets amongst many others. The Drug Mass Retailers category comprises of chains like Wal-Mart, Safeway, Albertson’s, CVS, Walgreen’s, Costco, Target amongst others.
TruLife CEO Brian Gould said that the company’s goal is to streamline the experience for consumers and brands and this agreement will enable them to shepherd Allied’s products.
Calum Hughes, CEO, and Chairman of Allied Corp said that the company is pleased with the positive feedback from the TruLife team on the test-marketing for Allied products. Hughes believes that it is the perfect time to go national with the products and Trulife can help in scaling.
Key Quote
“We are excited to be representing Allied’s products in the U.S. health and wellness market,” says TruLife CEO Brian Gould, “Our goal at TruLife is to streamline the experience for brands and consumers, alike. We plan to shepherd Allied’s products along the path to success within the U.S. market.”
Technical Data
ALID stock is trading below the 20-Day and 50-Day Moving averages of $1.88 and $1.98 respectively. However, the stock is trading above the 200-Day moving average of $1.36. The stock is down 15% in the past month.
