Branded Legacy Inc. (OTCMKTS:BLEG) operates as a holding company which is involved in commercially developing CBD and hemp laced beverages. Yesterday, the stock had come into considerable focus among investors and ended the day with gains of as much as 22% after it made a major announcement.
Trading Data
On Thursday, BLEG stock soared 22.81% to $0.0498 with 2.5k shares, compared to its average volume of 16.4K shares. The stock moved within a range of $0.0498 – 0.0498 after opening trade at $0.0498.
Branded Legacy, Inc. Continued Revenue Growth
The company announced that its product Spikes CBDX had generated considerable growth in sales at the five locations in Florida which had started retailing the product. It goes without saying that the announcement was a significant one and hence, led to considerable optimism about the stock among investors.
The company announced that Spikes CBDX managed to already generate growth of 25% in the month of February as compared to its performance in January 2022. The availability of the product in the five new outlets in Florida seems to have done the trick for the product.
In light of the rally experienced by the Branded Legacy sock on Thursday, it is going to be interesting to see if the stock can continue to add to its gains over the coming days. At this point in time, it may be a good idea for investors to add the stock to the watch lists.
Technical Data
BLEG stock is trading above the 20-Day and 50-Day Moving averages of $0.0372 and $0.0389 respectively. However, the stock is below the 200-Day moving average of $0.0542.
