If a company makes a move into a potentially high-growth and lucrative sector, then its stock generally moves in a positive direction and that is what seemed to have happened with the Alkame Holdings Inc (OTCMKTS:ALKM) stock on Monday. The stock came into focus yesterday following a key announcement from the diversified holding company and clocked gains of as much as 10% gains for the day as a consequence.
Trading Data
On Monday, ALKM stock moved up 10% to $0.0005 with more than 15.11 million shares, compared to its average volume of 18.86 million shares. The stock moved within a range of $0.0005 – 0.0007 after opening trade at $0.0006.
Alkame Enters $10.7 Billion Anticipated US Plant Based Food Sector with Sistry Foods
The company announced yesterday that its fully owned subsidiary unit West Coast Co-Packer Inc had been successful in completing product development and had started the production process with regards to Sistry Foods LLC. Sistry Foods is a new brand that is focused on plant-based sauces. In this context, it may be a good idea for investors to take a closer look at Sistry Foods first.
The company had actually been established by a trio of sisters who had been trying to develop sauces that could be consumed by anyone despite any kind of dietary restrictions. The sauces are available in three flavours at this point. The Ranch Dressing, Chili Chipotle and Jalapeno Cilantro and are entirely made from plant based items. In addition to that, the sauces are soy free, gluten free, entirely vegan and keto diet friendly as well.
Alkame Holdings’ subsidiary company West Coast Co-Packer is now going to be working with Sistry Foods on these products. Robert Eakle, who is the Chief Executive Officer of Alkame Holdings spoke about the project as well. He stated that everyone at the company was excited at the prospect of working on the sauces with Sistry Foods.
However, more importantly, he noted that Alkame had been looking for the right project for some time so as to enter the fast-growing plant-based food space. The plant-based food sector has recorded significant growth in recent times. For instance, he noted that the sector had been valued at $5.6 billion back in 2020 and is expected to grow into a sector worth as much as $10.7 billion in 2027.
Alkame Completes Development of Simple Beverages New Hemp Infused Beverages and Begins Production
The company has been making considerable progress in recent times with regard to product development and it actually made a similar announcement last month.
At the time, the company had announced that its fully owned subsidiary unit West Coast Copacker Inc had successfully completed the development of two more beverages. In addition to that, it was looking to expand the extent of the offerings from the Simple brand. It started the production of LLC Green Tea and Simple Beverages, with one eye on making a major dent in the hemp-based beverages space.
It should be noted that Simple Beverages LLC has been working with Alkame Holdings for quite some time with the view of developing beverages and then bringing the same to the market. The initial product that had been developed had been a success and that led to the company letting West Coast Copacker work on the development of the two additional beverages.
Technical Data
ALKM stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0007 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0009.
