Black controlled and completely licensed Columbia based hemp and cannabis producing company One World Products Inc (OTCMKTS:OWPC) came into considerable focus among investors on Tuesday following a major announcement from the company.
Trading Data
On Tuesday, OWPC stock soared 23.16% to $0.1170 with more than 554k shares, compared to its average volume of 139k shares. The stock moved within a range of $0.0855 – 0.1170 after opening trade at $0.0950.
One World Products Appoints Timothy Woods as Chief Financial Officer
The announcement proved to be a major trigger for the One World Products stock and it ended the day with gains of as much as 23% as a consequence. The company announced yesterday that it had completed the appointment of a new Chief Financial Officer in the form of Timothy Woods. It was a major announcement from the company and it appears that investors have welcomed the appointment of the Woods wholeheartedly.
It was also announced that Woods will be responsible for continuing the work related to the building of a world class financial team at One World Products. The building of a talented financial team is going to be important for One World as it tries to expand its worldwide platform that is dedicated to sustainable cannabis and hemp solutions.
The optimism among investors with regards to the appointment is perhaps understandable. However, it now remains to be seen if the stock can manage to hold on to its momentum and add to its gains today.
Key Quote
“Timothy possesses an impeccable record of success with both domestic and international Fortune 500 organizations and has acted as an influential advisor to executive management, boards of directors and investors throughout his career,” says Isiah Thomas, One World’s Executive Chairman and CEO. “Timothy’s relationships in the automotive industry will complement our recently announced partnership with Stellantis and support opportunities for additional partnerships in this sector in the future.”
Technical Data
OWPC stock is trading above the 20-Day and 50-Day Moving averages of $0.09 and $0.09 respectively. However, the stock is trading below the 200-Day moving average of $0.14.
