Shares of ZA Group (OTCMKTS:ZAAG) pulled back sharply on Wednesday after gaining momentum recently.
Trading Data
On Wednesday, ZAAG stock fell 21.50% to $0.0011 with more than 549.48 million shares, compared to its average volume of 60.88 million shares. The stock has moved within a range of $0.0009 – 0.0015 after opening trade at $0.0014.
ZA Group Sees Improvement in Holiday Consumer Demand, While Subsidiary NFID Launches Winter Collection in DTC Store
ZA Group ZA Group (OTCMKTS:ZAAG), which mainly focuses on acquiring direct-to-consumer (DTC) brands that deliver gripping products in fashion, street, wellness, home, active, and outdoor lifestyle sectors, have experienced a boost in holiday consumer demand.
According to Adobe Analytics, online holiday retail sales are expected to reach over $200 Billion for 2021! The exact sales numbers will be announced soon, as Black Friday and Cyber Monday order fulfillment comes to a close. NFID, a subsidiary of ZA Group, and an active lifestyle brand that produces apparel and accessories has exceeded expectations for the holiday season, and is projecting a steady increase YOY!
President of ZA Group, John Morgan, is thrilled about the performance of NFID! There is a great deal of improvement in customer orders, and tremendous opportunity for growth as they continue collaborating with artists and influencers that bring authenticity and credibility to the brand.
NFID has launched their entire winter collection through the DTC store – www.nfid.com. CEO of NFID, Bill Bollander says that there are more thrilling products to be introduced in the upcoming Spring 2022 collection (expected to be launched in Q2 of 2022). Both winter and spring collections should be immensely popular, with sales and revenues reflecting their efforts.
Key Quote
“Our subsidiary NFID, has exceeded our expectations and we have been able to ramp up production and marketing and we expect the sales and revenues to reflect our efforts to increase sales in the next quarter as we continue to market our Winter line and begin production to introduce our new Spring line, which we expect to be a hot seller in Q2.” Mr Morgan
Technical Data
ZAAG stock is trading below the 20-Day and 50-Day Moving averages of $0.0015 and $0.0028 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0099.
