On Wednesday, Unrivaled Brands Inc (OTCMKTS:UNRV) emerged as one of the cannabis companies to have made a notable move in the markets and ended up with gains of 4% for the day. The company is involved in the cannabis sector and operates in Oregon and California. Yesterday, Unrivaled came into focus after its Chief Executive Officer Tiffany Davis issued a letter to its shareholders.
Trading Data
On Wednesday, UNRV stock gained 4.40% to $0.1151 with more than 1.02 million shares, compared to its average volume of 500K shares. The stock moved within a range of $0.1100 – 0.1185 after opening trade at $0.1101.
Key Details
There were some important topics that Davis touched upon in the letter and it may be a good idea to take a look at some of those. After all, it was the reason behind the rally in the stock yesterday.
In the letter, Davis wanted to largely share her vision for the future of the company. She noted that the move to acquire UMBRLA Inc, the rebranding of the company to Unrivaled from Terra Tech Corp and some important acquisitions like that one of People’s First Choice LLC were some of the strategic moves aimed at the long term health of the company. Those moves also went a long way in strengthening the position of Unrivaled as a major operator on the West Coast of the United States.
Technical Data
UNRV stock is trading below the 20-Day and 50-Day Moving averages of $0.14 and $0.17 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.26.
