As the trading kicked off in the new year, BarFresh Food Group Inc (OTCMKTS:BRFH) emerged as a point of focus among many investors following a key announcement from the company. The company, which is best known for ready to drink and ready to blend frozen beverages, saw its stock soar by as much a 15% yesterday as investors piled on to it following the announcement.
Trading Data
On Monday, BRFH stock soared 14.61% to $0.47 with more than 29k shares traded, compared to its average volume of 4k shares. The stock has moved within a range of $0.4500 – 0.4700 after opening trading at $0.47.
Barfresh Expands Penetration of the Education Channel with Addition of 536 New School Locations in the State of Maryland
The company announced yesterday that it had successful expanded its education program and it had been made available in as many as 536 new schools. It goes without saying that it was a major announcement and had been a factor in the remarkable rally in the BarFresh Food stock yesterday.
The new locations established by the company are situated in schools across a total of 8 districts in the state of Maryland. Perhaps more importantly, the schools command exposure to as many as 380,000 students.
The excitement among investors with regards to the announcement is understandable and it is now going to be interesting to see if it leads to further gains in the BarFresh stock in the coming days or now. It may be a good idea to add the stock to your watch lists.
Key Quote
Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “We are thrilled to announce the expansion of our presence in the state of Maryland with the addition of 536 school locations spread out across eight new school districts. Our ability to expand across the United States and in specific geographies has been due to our strong sales network made up of regional team members with deep connections in their territories. As detailed one of the eight school districts is alone forecasting to serve an impressive 30,000 units of our product per week. We have stated that based on the momentum in the education channel over the course of 2021, we will be recording our highest quarterly revenue in the seasonally light fourth quarter 2021 and expect to exceed $2 million in revenue. I’m incredibly proud of our success within this channel and look forward to maintaining this momentum in 2022.”
