Although the stock of the diversified holding company Alkame Holdings Inc (OTCMKTS:ALKM) was trading in a range on Tuesday, it should not be forgotten that the company was in the news and had, in fact, made a key announcement.
Trading Data
On Tuesday, ALKM stock ended flat at $0.0007 with more than 30.64 million shares, compared to its average volume of 24.14 million shares. The stock moved within a range of $0.0006 – 0.0008 after opening trading at $0.0006.
Alkame Signs Multi Product Agreement with Tomaso’s Foods
It may be a good time for investors to take a look into it and figure out if it may result in a breakout for the Alkame stock or not. The company announced yesterday West Coast Co-Packer, its fully owned subsidiary unit had signed a production and development agreement with the company Tomaso’s Foods LLC.
Tomaso’s Foods, which is based out of Blue Lake in California, is a specialist in food distribution and primarily deals in the Italian food items that are manufactured by the company. In addition to that, the company is also involved in the distribution of other food items which are produced in Humboldt County in California.
The company is mainly known for small scale production but now it has moved its focus to efficient distribution and hence, the latest deal with the Alkame subsidiary West Coast Co-Packer. It now remains to be seen if the deal leads to any boost for the Alkame stock.
Key Quote
“We are very excited to work together with Tomaso’s Foods and look forward to bringing the quality of the products from their kitchen to consumers on a commercial scale for larger distribution”, stated Robert Eakle, Alkame CEO.
Technical Data
ALKM stock is trading below the 20-Day and 50-Day Moving averages of $0.0007 and $0.0008 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0011.
