The wellness industry has come on to the radars of many investors over the course of the past year or so and it is easy to see why. The industry has generated considerable growth and its offerings have managed to chart out a growing customer base too.
Hence, there is interest in the wellness-related stocks and if you are looking into any such stock today, it might be a good time to perhaps start tracking the Sibannac Inc (OTCMKTS:SNNC) stock. Sibannac is a wellness company that is trying to diversify into a wide range of niches within the wellness industry and earlier on in the week, the company announced another major partnership.
Sibannac, Inc. Enters Letter of Intent with Sleep Fitness Brand – SOMO(TM)
On February 28, the company announced that it had been successful in inking a letter of intent with the company SOMO, which is involved in the sleep fitness space. Paul Juris and Lisa Juris, the two celebrated fitness and marketing experts lead the company. SOMO is currently best known for having developed a sleep mask for which a patent is still pending. The product has been created through the incorporation of the Acupressure point technology that has been created by SOMO.
The announcement came as a source of massive encouragement for the Sibannac stock and yesterday, the stock managed to clock gains of as much as 21.21% on the back of this particular development. It is easy to see why investors may have been excited about the potential entry of Sibannac into the sleep aid industry. It is a highly lucrative industry and at this point in time, the sleep aid industry in the United States alone is worth as much as $14.5 billion.
On the other hand, the global sleep aid market is currently valued at as much as $432 billion. Hence, if the company can be managed to corner even a tiny portion of the market then it could lead to a significant boost to Sibannac’s bottom line.
David Mersky, CEO of Sibannac, remarked, “The stars are aligning for us now, as we move forward with Lisa and Paul of SOMO™. The opportunity for Sibannac to accelerate its entry into the wellness space with patented, wearable technology, is enormous. The sleep space is exploding and we are bringing the Campus Co. platform to life as Eric Stoll and the SOMO™ team launch the mask and set the stage for future extensions of the brand.”
