Over the course of the past week, the Forbidden Spirits Distilling Corp (CVE:VDKA) stock has garnered considerable attention from investors and that can be gauged from the price action in the stock. During that period, the stock has experienced significant action and managed to clock gains of as much as 7%.
In this situation, it may be a good idea for investors to consider taking a closer look at the company’s business and some of the recent developments related to it. The company operates craft distilleries and at this point in time, it is one of the fast-growing such companies in Canada.
Trading Data
On Wednesday, VDKA stock fell 3.23% to $0.15 with more than 24k shares, compared to its average volume of 33.5K shares. The stock has moved within a range of $0.1500 – 0.1550 after opening trade at $0.15.
About The Company
The company’s stock is listed on the TSX Venture Exchange and trades under the ticker symbol VDKA. At this point in time, Forbidden Spirits is involved in the manufacturing and distribution of a range of high-end brands. Some of those brands include Eve’s Original Gin, Wallace Hill Whisky, Forbidden Fire, and Adam’s Apple Brandy among others.
Exclusive Three Year Distribution and Marketing Agreement with Shanghai Based Sinowei Ltd.
The company has also been working diligently towards growth and back on January 13 it announced that it had signed a marketing and distribution agreement spanning three years with Sinowel Ltd.
Sinowel is based out of Shanghai and the distribution agreement with Forbidden Spirits is also going to include the markets of Hong Kong, Macau, and Mainland China. Sinowel is a global firm and it is expected to open up a world of new opportunities for Forbidden Spirits. This could well prove to be one of the more important deals to have been signed by the company. On the other hand, back in December 2021, the company had got another boost after its stock was finally listed on the TSX Venture Exchange. It is a significantly large exchange and will give Forbidden Spirits exposure to a larger pool of investors.
