Solventless extract press manufacturing company ROSINBOMB (OTCMKTS:ROSN) saw its stock take a bit of a dive on Monday as it ended the day with a decline of as much as 4%. In light of the decline, it may be a good idea to figure out if the stock is going to fall further or if it is an actual opportunity to get into the stock.
Trading Data
On Monday, ROSN stock moved down 4% to $1.20 with 6.5k shares, compared to its average volume of 3.3k shares. The stock has moved within a range of $0.9011 – 1.2500 after opening trade at $1.2.
Industry Leader Rosinbomb™ Announces Strategic Partnership With Day 1 Distro
Yesterday, the company came into focus after it announced that it had decided to ink a strategic partnership with the value added wholesale distribution firm Day1Distro. Day1Distro is known for providing a wealth of experience, innovation and industry level expertise to the wider ancillary space.
The strategic partnership could prove to be a hugely important one for the company in the medium to long term, however, it did not lead to any optimism among investors. In fact, the stock suffered from a selloff as some investors headed for the exits. The two companies are going to work together so that they can provide an organic and solventless solution to the wellness industry. It may be a good idea to add the stock to you watch lists at this point.
Key Quote
Rosinbomb’s CEO, Fred Angelopoulos said, “The partnership with Day 1 is a strategic initiative of two companies that share the same philosophies as it relates to providing a safe, organic and solventless approach to wellness. We feel Day 1 distinguishes itself from traditional distributors through its extensive industry knowledge and understanding of the customer base. In addition, rather than just responding to demand created by vendors, Day 1 is focused on creating demand as well as executing timely and efficient fulfillment,” Fred added.
