One of the companies which could well be worth looking into at this point in time in light of recent developments is Readen Holding Corp (OTCMKTS:RHCO). Before getting into the actual developments, it is first necessary for investors to get an actual idea about the nature of the company and its business.
Trading Data
On Monday, RHCO stock gained 9.37% to $0.0350 with more than 40K shares traded, compared to a volume of 70K shares. The stock moved within a range of $0.0350 – 0.0400 after opening trading at $0.0379.
About Readen Holding
The company primarily operates through its subsidiary units and is involved in a range of sectors. It is involved in telecommunications, in video and music, and also in the recycling industry. Readen Holding Corp’s operations is primarily based in the Netherlands but it operates at a global level as well. It is involved in a wide range of industries and remains a company that may be tracked by investors at this point. Readen Holding Corp is headquartered in the Netherlands.
Announces Fligro’s New Distributorship Of Tax-Free Prodcuts To Asian Market
As it happens, the company was in fact in the news yesterday and it may be a good idea for investors to consider taking a close look at the news. The venture capital corporation made an announcement with regards to Fligro Limited, which is one of the companies that it owns. It announced that Fligro had been successful in signing a distribution agreement with The Netherlands Company NV.
By way of this particular agreement the international food trading company, Fligro also managed to get a distributorship of a wide range of products for the Asian market. It should be noted that the products which it is going to distribute in the Asian market also hold tax free status. Hence, it is clear to see that the latest development could in fact prove to be a massive positive for Fligro and hence, for Readen Holding Corp as well.
It is also necessary to point out that Fligro had in fact been established back in 1953 and since then it has been involved in the global fresh food trading space. At this point in time, Fligro is headquartered in the Netherlands, like its parent company Readen Holding Corp. However, it also has subsidiaries in New Zealand and Hong Kong. The company’s outlook is truly global and it sources the products that it seeks to distribute from North America, South America, different parts of Europe, and also the Far East. In total, Fligro serves a worldwide network that is made up of in excess of 90 markets. Some of the products that the company seeks to distribute include beef, fish, dairy, and pork among other items.
However, the latest contract that the company signed is going to be a significant one since it is going to expand the range of products that it offers quite considerably. The latest contract is going to help the company in adding products like liquor, spirits, and beverages to the range of products that it distributes. The distribution work with regards to these products is going to begin at some point in the fourth quarter of this year. Investors could do well to keep an eye on the Readen Holding Corp stock at this point.
Key Quote
Richard Klitsie, CEO of RHCO stated, Fligro has a long successful history in fresh food trading and has been contributing stable revenues to RHCO. This new distribution contract will expand the business of Fligro into more areas with high potential revenues. Due to Covid-19, the supply chain has been a big issue in many markets, but we see this period as a good opportunity to start bringing more European products to Asia, and we believe this strategy will be fruitful in mid and long term.
Technical Data
RHCO stock is trading below the 10-Day and 20-Day Moving averages of $0.0355 and $0.0379 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0530. The company has a total market capitalization of $5.25 million. The stock is down 13% over the past 6 months.
