Diversified holding company Alkame Holdings Inc (OTCMKTS:ALKM) saw its stock trade within a range on Tuesday but at the same time it ought to be noted that the company was also in the news at the same time.
Trading Data
On Tuesday, ALKM stock ended flat at $0.0006 with more than 8.55 million shares, compared to its average volume of 34.18 million shares. The stock moved within a range of $0.0006 – 0.0007 after opening trade at $0.0006.
ALKM Retains eCommerce Brand Manager Part Of The Amazon Advertising Partner Network
Yesterday, the company announced that West Coast Copacker Inc, its fully owned subsidiary company had decided to retain the services of Brand Focus Digital, a brand management agency which is specifically involved in the e-commerce space. The appointment of a brand management agency is an important development for any growing brand but it did not lead to a lot of optimism among investors on Monday.
In addition to that, it is perhaps also necessary for investors to note that Brand Focus Digital is a company that has a proven record of success. It has managed to clock sales in the triple digits for its clients and has also managed to boost the return on investment considerably. While the appointment of the firm by the Alkame subsidiary West Coast Copacker might not have led to an immediate boost in the stock of the parent company, it will be interesting to see if the move leads to a long term boost or not.
Technical Data
ALKM stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0007 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0013.
