Publicly traded diversified company Alkame Holdings Inc (OTCMKTS:ALKM) saw its stock dive on Wednesday as it ended the day with a decline of as much as 14%.
Trading Data
On Wednesday, ALKM stock decreased 14.29% to $0.0006 with more than 19.74 million shares, compared to its average volume of 24.07 million shares. The stock moved within a range of $0.0006 – 0.0008 after opening trading at $0.0007.
Alkame Signs Multi-Product Agreement with Tomaso’s Foods
In this situation, it may be a good idea for investors to take a look at the latest development with regards to the company and then make their minds up about the stock. Earlier on in the week on Tuesday the company announced that West Coast Co-Packer, its fully owned subsidiary company had gone into a production and development agreement with the company Tomaso’s Foods LLC.
It could well prove to be a significant deal because Tomaso’s Foods LLC is currently looking to expand its distribution footprint in a big way. Tomaso’s Foods is based out of Blue Lake in California and is known for being a distributor of specialty foods. The specialty foods in question are Italian food products that the company itself produces.
However, in addition to that, it is also responsible for distributing food products that are produced locally in Humboldt County in California. Higher production and greater distribution are the two new points of focus for Tomaso’s and hence, the agreements with Alkame Holdings.
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.
