Over the course of the past week, the One World Products Inc (OTCMKTS:OWPC) stock has been in the middle of a significant selloff and ended up with a decline of as much as 25%. The company is the biggest cannabis and hemp producer in Colombia, which is fully licensed and yesterday, it made a major announcement.
Trading Data
On Monday, OWPC stock moved up 2.15% to $0.0950 with more than 113K shares, compared to its average volume of 171K shares. The stock moved within a range of $0.0912 – 0.1000 after opening trading at $0.0950.
Key Details
It may be a good idea for investors to take a look at it and figure out if a recovery could take place. The company announced yesterday that its Chief Executive Officer and Chairman, Isiah Thomas was going to visit the cities of Bogota and Cali in Columbia from April 26 through to April 28.
Yesterday, Thomas stated that he was ‘thrilled’ at the prospect of getting back in Colombia and meeting with the different stakeholders in the company’s interests in the country. He went on to add that it was also going to be the first trip to Colombia for him without the looming shadow of touch COVID 19 restrictions. Despite the decline in the stock in the past week, it is going to be interesting to see if it can make a recovery in the coming days.
Key Quote
“I am thrilled to be returning to Colombia to meet with our partners, landowners, customers, government officials and other companies on our first trip without stringent COVID-19 travel restrictions,” stated Mr. Thomas. “After recently signing our partnership agreement with the National Association of Mayors of Municipalities with Afro-Colombian population (“AMUNAFRO”), I’m excited for this opportunity to meet the mayors in person to reaffirm our long-term core commitment to ESG standards, to further expand our ability to perform in the marketplace and to build a strong foundation with an organization which is so rich in culture and heritage.”
Technical Data
OWPC stock is trading below the 50-Day and 200-Day Moving averages of $0.1109 and $0.1046 respectively. However, the stock is trading above the 20-Day moving average of $0.1197.
