If a stock falls considerably in a single day then it is almost always a matter of concern for investors. However, at the same time, it is also important to keep in mind that such a fall can often prove to be an opportunity as well, and hence, it may not be a bad idea to perhaps check those stocks out.
One of the stocks to have suffered substantially on Thursday owing to a selloff was that of Health Advance (OTCMKTS:HADV) as it ended the day with a decline of as much as 18%. At this point in time, the stock is in the Current Information tier in the OTC Markets and is included in the Alternative Reporting Guideline category.
Trading Data
On Thursday, HADV stock moved and slumped 17.58% to $0.0150 with 707K shares, compared to its average volume of 85K shares. The stock moved within a range of $0.0120 – 0.0150 after opening trade at $0.0150.
About Health Advance
The company is now under new management, which had been put in place last year. It has also moved into the CBD-laced beverage and related products space by way of its joint venture unit Courtship Wines.
However, that is not all. More joint ventures have also been announced and currently, those are being developed. Although the Health Advance stock declined sharply yesterday it is necessary to point out that the company made a fairly positive announcement and it could be a good idea to take a closer look into it.
CBD Infused Wine Beverage from Health Advance is Now in Production – Professional Communications for Launch Begins
The company confirmed yesterday that the CBD-laced de-alcoholized wine beverage had gone into production. In the first manufacturing run, as many as 19400 units are going to be produced and the units are going to be allocated to customers who have been vying for the coveted early deliveries of the product. The allocation is expected to begin at the start of next month.
However, that was not all. The company also announced that it had hired the services of Publicity for Good, the public communications company for heading the industry ambassadorship initiatives for the new brand. The brand is called 66′ Beverage Company. The production of the wines is going to be made by the company’s Courtship Wines unit. In this context, it is important to note that the hiring of Publicity for Good for public purposes is perhaps an indication that the product may well prove to be a success for Health Advance.
It is important to note that Publicity for Good has an excellent track record when it comes to fostering purpose-driven brands. Perhaps more importantly, Publicity for Good has the experience to spot brands that may have the ability to bring about a paradigm shift in existing markets. The fact that it has chosen to take on this task could be seen as a major positive.
In addition to that, Publicity for Good is quite selective when it comes to taking on any brand, and hence, the development could be seen as a major positive. That being said, the news did not come as a positive for investors, and the stock suffered from a steep selloff. It remains to be seen if the Health Advance stock can make a recovery today.
Key Quote
President of Health Advance, Larry McLachlin, comments on the start of production and the appointment of Publicity For Good: “This demonstrates leadership by our Courtship Wines management team. They are making astute arrangements that will benefit consumers and Health Advance shareholders, both. Publicity For Good is a cut above in their grasp of this market. They understand our brand mission.
Technical Data
HADV stock is trading below the 20-Day and 50-Day Moving averages of $0.0297 and $0.0426 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0526. The company has a total market capitalization of $2.30 million The stock is down 50% over the past month.
