The beverage sector has managed to garner considerable attention from investors in recent times and one of the important players in the sector is Golden Grail Technology (OTCMKTS:GOGY). However, the company’s stock was in the middle of a significant selloff yesterday and went down by as much as 9% as investors headed for the exits.
On Wednesday, GOGY stock slid 8.9% to $0.1704 with more than 59K shares, compared to its average volume of 164K shares. The stock moved within a range of $0.1700 – 0.1870 after opening trade at $0.1870.
Golden Grail Tech Beverages Announces Agreement with a Copacker for Sketch Can
The company was in the news yesterday after it made an announcement with regards to the fact it had managed to reach an agreement with a copacker in relation to its brand Sketch Can. Sketch Can is a healthy brand that is exclusively focused on tweens.
It should be noted that the brand had come into the possession of Golden Grail Technology after it completed the acquisition of Tickle Water. The brand had originally belonged to Tickle Water. While the announcement from the company was a positive one it did not elicit any enthusiasm from investors at all and resulted in an almighty selloff.
Golden Grail Technology is based out of Florida and it is looking to keep its distribution and production restricted to the state in order to control costs. It may be a good idea to keep an eye on the Golden Grail Technology stock today and watch out for any signs of a recovery.
GOGY stock is trading below the 20-Day and 50-Day Moving averages of $0.2055 and $0.2944 respectively. However, the stock is trading above the 200-Day moving average of $0.1683.