In the past week, the Iconic Brands Inc (OTCMKTS:ICNB) stock has been in the middle of a strong upward move and has managed to bring in gains to the tune of as much as 8%.
Trading Data
On Wednesday, ICNB stock went up 0.03% to $0.3501 with more than 91K shares, compared to its average volume of 100K shares. The stock moved within a range of $0.3490 – 0.3850 after opening trade at $0.3750.
Iconic Brands’ Bellissima Prosecco & Zero Wines Featured at the New York Bridal Fashion Week Runway Show
The company is one of the major players involved in the design, development and delivery of non-alcoholic as well as alcoholic beverages. Yesterday, the company was in fact in the news after it announced that the Bellissima Prosecco & Wines products that it developed had been showcased at the La Laurier debut of the New York Bridal Fashion Week Runway Show.
The event had actually been produced by Sophisticated Magazine and had been held in New York back on April 10. The event also included a cocktail party and it was Bellissima which was the exclusive wine partner.
It goes without saying that it was an important opportunity for the company to showcase its product and it may prove to be a long term boost. It is now going to be interesting to see if the Iconic Brands stock experiences a knock on effect from it and gets to add to its gains over the course of the coming days.
Key Quote
“It was a wonderful fashion show and provided a good fit for the Bellissima brand,” said Iconic Chief Executive Officer, Larry Romer. “With the recent launch of Bellissima Zero, a new line of zero sugar still wines, this was an ideal time to showcase our delicious wines and raise visibility to our brand. We are thankful to have been a sponsor of this exclusive event and support Lauren Holovka’s amazing bridal dresses, along with ‘Sophisticated Weddings’ and Alton Lane. Christie Brinkley’s name alone opens up many doors especially in the fashion and entertainment spaces that allow us to promote the Bellissima brand.”
Technical Data
ICNB stock is below the 20-Day and 50-Day Moving averages of $0.35 and $0.38 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.47.
