Diversified holding company Alkame Holdings Inc (OTCMKTS:ALKM) could be one of the company’s to follow today after its stock emerged as one of the major gainers yesterday and ended the day with gains of 14%.
Trading Data
On Monday, ALKM stock ended flat at $0.0007 with more than 34.74 million shares, compared to its average volume of 39.01 million shares. The stock has moved within a range of $0.0006 – 0.0008 after opening trade at $0.0008.
Alkame’s Jam and Jelly Acquisitions Affirmed by US Market Industry Report of A CAGR of 1.7% Forecast and Growth Opportunity
The Alkame stock came into focus yesterday after the company made a major announcement with regards to its fully owned subsidiary company West Coast Copacker Inc. Alkame announced yesterday that not too long ago, West Coast Copacker had been successful in completing the acquisitions a pair of specialty food brands. One of those is Quinn’s Pepper Jellies and the other one is Maury Island Farm Jams and Preserves.
Yesterday, it was further announced that the validity of the growth opportunity in these brands had also been ascertained by a market industry report focussed on the jam, jelly and preserves space in the United States. The report stated that the jam, jelly and preserves industry in the United States is going to grow at the compound annual growth rate of 1.7% from 2020 through to 2025.
The market intelligence and advisory company Modor Intelligence had been responsible for compiling the report. It was a positive development for the company and the rally in the Alkame stock was perhaps not a surprise.
Key Quote
“The increasing demand for convenient clean label foods has boosted the market for jam, jelly, and preserves in the US, and we had the foresight to acquire these two long-established brands already in the marketplace” states Robert Eakle, Alkame CEO.
Technical Data
ALKM stock is below the 20-Day and 50-Day Moving averages of $0.0008 and $0.0009 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0015. The stock is up 17% in the past month.
