It was not a great day in the markets for the Yuengling’s Ice Cream Corporation (OTCMKTS:ARSN) stock as it suffered from a pretty strong selloff and went down by as much as 11% as a consequence.
Trading Data
On Tuesday, ARSN stock ended flat at $0.0008 with more than 164.78 million shares, compared to its average volume of 32.60 million shares. The stock moved within a range of $0.0007 – 0.0010 after opening trade at $0.0008.
Yuengling’s Ice Cream Hires Charles Green to Assist with Its Production Facility Acquisition and Relaunch of the Yuengling’s Brand
Considering the magnitude of the drop, it might be a good time for investors to perhaps work out if it could in fact be an opportunity to get into the stock. Yesterday, the company was in the news after it announced that it had hired Charles Green and also hired the services of Desmond Partners, Green’s consulting firm.
It was also announced that Green was going to work directly under the President and Chief Executive Officer of Yuengling’s Ice Cream Corporation, Rob Bohorad. Despite the adverse reaction from investors, it ought to be noted that the appointment of Green is an important one for Yuengling’s Ice Cream Corporation. He is going to be responsible for helping the company with the key acquisition of a production facility.
Once that is completed, he is going to be responsible for helping the company with the task of identifying other potential acquisitions. It now remains to be seen If the stock can actually make a recovery any time soon.
Key Quote
Mr. Green has been in the ice cream industry for more than 40 years. While he has worked with numerous companies, he is best known for his role with Ben & Jerry’s, as he was instrumental in Ben & Jerry’s growth from $107 million to more than $275 million in sales. “I had the incredible opportunity to have a front row seat and be a part of an experience like Ben & Jerry’s,” said Mr. Green.
Technical Data
ARSN stock is trading below the 20-Day and 50-Day Moving averages of $0.0009 and $0.0010 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0018.
