While It is true that the FBC Holding Inc (OTCMKTS:FBCD) stock was trading within a range on Wednesday, it should be noted that the company did make a major announcement and it may be a good idea to take a look into it.
Trading Data
On Wednesday, FBCD stock ended flat at $0.0006 with more than 19.24 million shares, compared to its average volume of 85.44 million shares. The stock moved within a range of $0.0005 – 0.0007 after opening trade at $0.0006.
FBC Holding, Inc. (FBCD) Announces Strategic Expansion Plan
The company announced yesterday, through its fully owned subsidiary company Formrunner Apparel Inc, the highlight of its plans for the upcoming year. The company noted that it had been working hard on a wide range of initiatives in 2022 so far and many of those initiatives have in fact borne fruit already.
The company also noted that the subsidiary company Formrunner Apparel is actually in discussion with a pair of professional athletes for becoming brand ambassadors. While the possibility of major brand endorsements was a significant announcement, it was also announced that Formrunner was also in talks with a number of distributors from all across the globe.
In addition to that, the Chief Executive Officer of the company Lisa Nelson also noted that the Las Vegas Fashion Week had also proven to be a singularly successful event for the company and its products. It remains to be seen if the stock can snap out of its range.
Key Quote
President & CEO Lisa Nelson states “The Las Vegas Fashion Event was such a success that it brought in major revenue with distributors, retailers in high end streetwear & fashion, and a company from Saudi Arabia that wants to acquire and push our brand to a whole new level!” Lisa Nelson also states, “We couldn’t be any happier with the results and we can’t wait to see what the rest of this year holds for us as a whole!” In other exciting news, FBC Holding, Inc. is actively looking for a 3rd retail location in Las Vegas in the southwest area and will keep shareholders updated on all the topics discussed moving forward.
Technical Data
FBCD stock is trading below the 20-Day and 50-Day Moving averages of $0.0008 and $0.0013 respectively. However, the stock is trading below the 200-Day moving average of $0.0126.
