Stem Holdings Inc. (OTCMKTS: STMH) fell 3% after announcing the appointment of Matthew Cohen as CFO and CEO, effective immediately.
Trading Data
On Monday, STMH stock moved down 3.13% to $0.0680 with more than 85K shares, compared to its average Monday of 314K shares. The stock moved within a range of $0.0715 – 0.0761 after opening trade at $0.0761.
Stem Holdings Co-Founder, Matthew Cohen, Appointed President, Chief Executive Officer, and Chief Financial Officer
Cohen, the co-founder of the company, said that he, alongsideother newly appointed members Rajiv Rai andDarly Simon, will implement a planfocusing all resources on operations that are mainly in Oregon for now. However, Cohen said that they intend to monetize assets based outside California and Oregon to prioritize sustainability and future growth. Also, the company will conduct expense restructuring across the company as they seek to streamline operations, reduce costs, enhance product quality and strengthen the balance sheet.
Cohen cofounded Stem in 2016, and before that, he held various corporate leadership positions spanning almost four decades, most of which focused on structuring, capital investing, and funding private/public firms. Additionally, he has tremendous experience in mergers and acquisitions, business valuations and combinations, revenue recognition, IPOs, reverse mergers, debt offerings, REIT compliance, and secondary offerings. So STMH is worth watching.
Technical Data
STMH stock is trading below the 20-Day and 50-Day Moving averages of $0.0711 and $0.0855 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1948.
