This morning, many investors are going to be looking into the Kaival Brands Innovations Group Inc (NASDAQ:KAVL) stock since it had been on the move on Tuesday and had ended up with gains of as much as 7%.
The company, which is best known for distributing products from BidiVapor LLC, was in the news earlier on this week when it announced that it had managed to expand its retailer and additional wholesaler accounts. It was a major new announcement from the company and hence, the rally in the stock on Tuesday was perhaps not much of a surprise.
More importantly, Kaival Brands Innovations also noted that the products it distributes are expected to eventually reach as many as 28,000 more stores. The Chief Executive Officer of the company, Niraj Patel, spoke about the situation.
He noted that the sales volumes had gone up considerably in the second fiscal quarter and considerable sales were generated by bothering retailers as well as wholesalers. He went on to add that over the course of the next 45 days, the company expects to add 3900 new stores to its network.
That is also going to include a major retail company, which has already placed an order worth as much as $1.1 million. The announcements were highly positive and may have been the source of optimism about the Kaival Brands Innovations stock at this point in time. It may now be a good idea for investors to consider adding to the Kaival Brands Innovations stock to their watch lists and keep an eye on the price action.
The stock has already gained momentum this week and it is going to be interesting to see if it can continue to add to its gains over the course of the next few days.
