If you are currently looking into stocks which may have recorded strong gains over the past few days then it may be a good time to start tracking the American Green Inc (OTCMKTS:ERBB) stock. It has been one of the notable movers over the course of the past week and has managed to clock gains of as much as 25% as a consequence.
Trading Data
On Thursday, ERBB stock jumped 3.03% to $0.0034 with more than 140.73 million shares traded, compared to its average volume of 24.14 shares. The stock has moved within a range of $0.0033 – 0.0044 after opening trading at $0.0035.
Revenue at New Cypress Chill Cannabis Grow is Now Estimated at $15,000,000 Annually
Yesterday the company was in focus once again after it announced that the architecture related plans for the Cypress Chili grow project. The company noted that those plans have been revised.
American Green noted that once the world class complex is completed it is going to help the company in bringing in annual gross revenues to the tune of as much as $15 million a year.
That is a major development and a potential source of optimism among investors as well. It should be noted that back in August last year, American Green had estimated that the revenues from the site for the year was going to be $10 million a year. Such a jump in estimate is an important development and it is likely that it is going to be bring the stock into more focus among investors.
Key Quote
American Green president, David G. Gwyther, said, “We have to give the credit for these increased annual revenue projections to the architectural staff working with Gierczyk Inc. and especially its president Mr. Jimmy Gierczyk. Mr. Gierczyk has been personally involved with our corporate expansion plans since we hired his company about a year ago.
Technical Data
ERBB stock is trading above the 20-Day and 50-Day Moving averages of $0.0028 and $0.0029 respectively. However, the stock is trading above the 200-Day moving average of $0.0049.
