The Valens Company Inc. (TSX:VLNS) (NASDAQ:VLNS) was up 9%, but the stock is down 23% in a month. The company announced that it would host its Investor Day virtually on February 7, 2022, at 11:00 AM ET.
Trading Data
On Monday, VLNS stock moved up 8.89% to C$2.45 with more than 143K shares, compared to its average volume of 178k shares. The stock has moved within a range of C$2.2200 – 2.4700 after opening trade at C$2.26.
The Valens Company Launches Two New Brands in Value and Premium Markets
The company’s management will discuss their 2022 corporate programs, including financial objectives, recent development, and acquisition progress, and offer insights about the company’s activities.
Recently the company launched “Versus,” which is a transformation of the Verse value brand. The launch includes the debut of two brand new Versus product offerings this week, as well as a rebrand of the whole Verse range this spring, totaling about 20 SKUs throughout product categories.
Also, Valens is releasing Contraband, its newest ultra-premium line, coming with two CNDYLND flower sizes this week. This reinvention and extension are the first steps in a multi-phase strategy to transform the company’s brand offerings into one of the most successful brands in the adult-use recreational market. So, in the coming weeks, VLNS is worth watching.
Key Quote
“The acquisition of Verse was critical because it got us a wide base of listings in seven provinces, across multiple categories, in the very important value-priced segment,” said Tyler Robson, Chief Executive Officer and Chair of The Valens Company. “Relaunched as Versus, it will be the challenger that isn’t afraid to go toe-to-toe with every value brand competitor, and we’re confident that it will come out on top in terms of product quality and consumer satisfaction.”
Technical Data
VLNS stock is below the 20-Day and 50-Day Moving averages of C$2.65 and C$3.45 respectively. Moreover, the stock is trading below the 200-Day moving average of C$7.11. The stock is up 10% in the past week.
