NightFood Holdings Inc (OTCMKTS:NGTF) is an interesting company that is involved in the sleep-friendly night time snacking industry and may well prove to be one of the companies that investors could consider looking into at this point in time. The stock may have fallen by as much as 8% yesterday but at the same time, it may be a good idea to figure out if this may be an opportunity for investors or not.
On Monday, NGTF stock fell 7.50% to $0.1850 with more than 154K shares traded, compared to a volume of 122K shares. The stock moved within a range of $0.1750 – 0.2100 after opening trading at $0.21.
About NightFood Holdings
First and foremost, it is necessary to have a look at the nature of the company’s business if anyone wants to have a better idea about Nightfood. According to studies, more than 80% of people in the United States partake in night time snacks and the number of occasions for such snacking is pegged at 700 million every year. The yearly spending on such snacks stands at $50 billion at this point and hence, it is quite easy to see that Nightfood is involved in an industry that is substantial and is expected to grow further.
However, the sort of snacks that people eat can often be detrimental to their sleep and that is why the sleep-friendly variants of snacks sold by Nightfood make it a company that may emerge as a major disruptor.
Nightfood Sleep-Friendly Cookies Slated for July Production
As it happens, the company was in the news yesterday after it made a major new announcement with regards to a product launch. The company announced that it was going to launch its line of sleep friendly cookies next month. The product in question is the ‘Prime Time Chocolate Chip’ and is expected to be the first of its kind product to hit the market.
The production tests related to the product and the recipes have also been finalized by Nightfood. In addition to that chocolate flavor, snickerdoodle and cherry cat flavors are also under development at this point in time. Nightfood expects that it would produce cookies in those flavors in July or August. Last month the company had launched its sleep friendly ice creams and it had been launched at hundreds of hotels across the United States spread across as many as 40 states.
“With our national ice cream hotel rollout now fully underway, we believe it’s time to take advantage of expansion into additional formats,” remarked Nightfood CEO Sean Folkson. “Like our ice cream, there is no sacrifice of taste or texture for consumers making a better nighttime snack choice. These are delicious cookies, which were specifically formulated to be both healthier and more sleep-friendly. That makes them a natural fit for hotels. And now, even hotels that don’t have ice cream freezers will be able to make Nightfood snacks available to their guests.”
NGTF stock is trading above the 20-Day and 50-Day Moving averages of $0.17 and $0.17 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.19.