The functional beverage industry has grown at a remarkable rate over the course of the past few years and one of the leading players in that space at this point is CENTR Brands Corp (OTCMKTS:CNTRF).
Trading Data
On Thursday, CNTRF stock ended flat at $0.72 with more than 2.5k shares traded, compared to its average volume of 3.6k shares. The stock has moved within a range of $0.7200 – 0.7200 after opening trading at $0.72.
CENTR Continues to Expand Retail Availability Across the U.S.
Yesterday, the company made a major announcement with regards to its retail operations but it did not move the needle much with regards to its stock, which continued to trade within a range. Yesterday, the company came into focus after it announced that as of the end of November 2021, CENTR Sugar Free and CENTR was being sold in around 1800 retail outlets in the United States.
It goes without saying that it was a major announcement but the news of such a rapid expansion did not lead to any bullish trigger for the CENTR Brands stock.
The Chief Executive Officer of the company Joseph Meehan spoke about the effort that had been put in by the company to turn 2021 into a ‘breakthrough year’ for CENTR Brands. He went on to state that he expects 2022 to turn into an even stronger year for CENTR Brands. Hence, it may be a sound move to keep track of the company at this point in time.
Key Quote
“2021 was a breakthrough year for distribution of CENTR and CENTR Sugar Free,” said Company CEO Joseph Meehan. “Working with our national distributor and regional partners, we expect 2022 to demonstrate even stronger retail penetration for our family of the country’s leading CBD products. CENTR products are on track for even more explosive account growth in 2022, with early numbers suggesting the Company will double or triple the prior years retail account penetration. We plan on providing updates to the Company’s retail account growth each month going forward. Together with our upcoming launch of CENTR’s online store, we will provide ever-growing opportunities to Find Your CENTR.”
Technical Data
CNTRF stock is trading stock the 50-Day and 100-Day Moving averages of $0.7421 and $0.8693 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.12.
