Vertically integrated cannabis firm Unrivaled Brands Inc (OTCMKTS:UNRV) operates across the states of Oregon and California and remains a notable player in the industry. While it is true that the stock was trading within a range on Thursday, it cannot be denied that the company did make a major announcement that investors could look into.
Trading Data
On Thursday, UNRV stock gained 0.34% to $0.25 with more than 252k shares, compared to its average volume of 524K shares. The stock moved within a range of $0.2422 – 0.2550 after opening trade at $0.2490.
Unrivaled Brands Expands Oregon Footprint with Launch of Advanced Cultivation Facility
The company announced yesterday that it had opened a new cultivation plant in the Southern region of Oregon. It goes without saying that that the opening of a new state of the art plant is a major milestone for Unrivaled Brands and could well prove to be a significant long term boost.
In this situation, it could be a good idea for investors to consider taking a closer look at some of the features of the new facility. The facility offers as much as 10000 square feet worth of greenhouse and as much as 50000 square feet of cultivation under the sun.
The greenhouse consists of as many as 275 full lights which are meant for facilitating the cultivation process. Despite the lack of movement in the stock yesterday, it may be a good time to keep an eye on the Unrivaled stock today.
Key Quote
Unrivaled’s COO, Uri Kenig, stated, “We are excited to launch our cultivation operation in Oregon which will allow us to provide high quality flower for our Sticks brand, one of the leading pre-roll and packaged flower brands in the state of Oregon. With the first harvest expected in early summer of 2022, we expect greater margins and brand consistency, furthering our mission of becoming the leading west coast MSO.”
Technical Data
UNRV stock is trading below the 20-Day and 50-Day Moving averages of $0.25 and $0.27 respectively. Moreover, the stock is below the 200-Day moving average of $0.28.
