Beverage company NOHO Inc (OTCMKTS:DRNK) could be in focus among investors today following the events from yesterday and it could be a good idea for investors to take a closer look at the developments.
Trading Data
On Thursday, DRNK stock surged 33.33% to $0.0004 with more than 22.65 million shares, compared to its average volume of 27.19 million shares. The stock moved within a range of $0.0003 – 0.0004 after opening trade at $0.0004.
Key Details
As it happens, the NOHO stock had also moved strongly on Thursday and had ended the day with gains of as much as 33% as a consequence. Yesterday, it emerged that Sibannac had completed an agreement by way of which it was going to acquire all the brand assets from NOHO. The transaction in question was described as a three way transaction.
As per the terms of the agreement, all the brands that belong to NOHO are going to be acquired by Sibannac and will be brought under Campus Co, the branding arm of Sibannac. In this context, it is perhaps also necessary to point out that Campus Co has accomplished tremendous work in recent times and has manage to build a high class branding and marketing team.
The excitement among investors with regards to the NOHO stock is hence understandable at this point in time. It may be a good idea to add the stock to your watch lists at this point.
Key Quote
“This is an absolute win-win for all parties. The NOHO brands will now be much stronger under the Sibannac umbrella and the NOHO shareholders are getting tremendous value in return with Smog Armor bringing in an ultra-talented executive team and a terrific product line with its patented green tech paint. As a large remaining shareholder following the closing, it was vitally important that the incoming team had the capabilities and assets to propel the company into future success and earnings. The transaction will result in the best allocation of assets for both companies,” said Sibannac’s CEO, David Mersky.
Technical Data
DRNK stock is trading below the 20-Day and 50-Day Moving averages of $0.0004 and $0.0004 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0008.
