Schwazze (OTCMKTS:SHWZ), which is currently involved in the creation of a vertically integrated regional cannabis firm, saw its stock come into major focus in recent days and clock gains of as much as 4% in the past week.
Trading Data
On Wednesday, SHWZ stock gained 0.61% to $1.66 with more than 61k shares traded, compared to its average volume of 62K shares. The stock moved within a range of $1.6500 – 1.7500 after opening trading at $1.65.
Schwazze Closes Acquisition Of Colorado Cultivation Grower Brow 2, LLC
In this situation, it could be a sound move from investors to take a look at the announcement made by the company on Wednesday. The company announced yesterday that it had managed to close the transaction with regards to the acquisition of the assets of the company Brow 2 LLC. Brow 2 is based out of Denver in Colorado.
However, in this regard, it is perhaps more important to add that the assets that are being acquired also include a 37,000 square foot building that is equipped with indoor cultivation facilities. As a result, the acquisition could help the company in expanding its growth in a meaningful way in the coming years. This is the latest transaction from Schwazze that is related to the company’s rapid expansion plans for Colorado and it is going to be interesting to see how the stock performs in light of the latest development in the coming days.
Key Quote
“This is another step in building operational depth and capabilities in Colorado for Schwazze. This acquisition will add a talented team of growers, high-quality indoor flower cultivation capacity, new strain genetics, and another profitable asset to our platform. The new facility will supply our growing network of dispensaries and customers with a broad assortment of high-quality indoor flower,” said Justin Dye, Schwazze’s CEO.
Technical Data
SHWZ stock is trading below the 50-Day and 200-Day Moving averages of $1.73 and $2.08 respectively. However, the stock is trading above the 20-Day moving average of $1.60.
